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3/8/09

The Deal/Reuters: Bankruptcy's global onslaught - by Matt Miller

for the complete report from The Deal/Reuters click on this link

Bankruptcy's global onslaught - by Matt Mille

It's a frightening world out there: Chinese factories by the thousands lock their doors, and their owners disappear into the night. Russia's once-mighty resource giants scamper to restructure crippling debt and avoid going under. Ukraine and Latvia teeter on Iceland-like insolvency. Financial institutions just about everywhere seize up and are shut down or nationalized. On just one day late last month, a Danish bank collapsed, a Japanese finance company went bankrupt and two German states were forced to pour almost $4 billion into a crippled lender to keep it afloat.

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