$700 Billion Bailout plan/bill - First Draft is here…
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Update: Sept 29, 2008: U.S. House Rejects $700 Billion Financial-Rescue Plan
As we all are waiting for $700 billion dollars wall-street bailout plan. Finally as I am writing, Democrats and Republicans just came up with initial draft. Its a first 106-page draft HR bill 3997 (Emergency Economic Stabilization Act of 2008, EESA - h.r. 3997) can [...]
Wamu, Lehman Brothers, Bankruptcy Chapter 11 and You
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Who would have thought when Lehman, Mayer and Henry, Emanuel first founded the Firm in Montgomery, Alabama in 1850? Today after 158 years, Lehman Bothers is wobbling on the brink of bankruptcy. In 1858, the Lehmans accepted cotton crops from the local farmers as currency to settle accounts. But not anymore, they are running [...]