The publisher of the UK edition of Reader's Digest has today filed for administration after a deal to bail out its pension fund fell through.
But halfway through the month, Lehman Bros. filed for bankruptcy, the federal government moved to bail out the nation's financial system and credit all but disappeared.
The unemployment rate spiked, Lehman Brothers filed for Chapter 11 bankruptcy, the Fed agreed to bail out AIG, and the stock market crumbled.
And a few of those cited by Mr Collins as being "great"—Circuit City Stores (which filed for bankruptcy in 2009), Fannie Mae and Wells Fargo (both bailed out)—have made him look a little foolish.
Lawyers for the six officers, who are free on bail, have called the prosecution's case weak, filed for dismissal of the charges and argued that Ms. Mosby has conflicts of interest and should be removed from the case.
In Caballero's analysis, even the real estate-driven recession could have been managed if not for the US Treasury Department's decision to not bail out Lehman Brothers, the global financial services firm that filed for bankruptcy protection in September 2008.
To begin with, the Federal Reserve has it on some double-secret probation watch list, because it was bailed out with more than $2 billion of government TARP money, filed for bankruptcy and then stiffed the American taxpayer.
As we observe the five-year anniversary of the financial crisis — Lehman Brothers filed for bankruptcy five years ago this coming weekend — the most intriguing hypothetical question about those fateful days is what would have happened had the government bailed out Lehman.
Black's lawyer, Miguel Estrada, tells me he'll be filing an application for bail early next week.
Mel A. Sachs, the lawyer representing Sante Kimes, said he would file a request for bail.
After the hearing, O'Mara, who described his client as "stressed and tired", told reporters that he would be seeking to file a motion for bail in the coming days.
