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Posts Tagged ‘Bail Out’

Walgreen's - New uses for failed banks - Pictures - CBS NewsList of banks acquired or bankrupted during the Great Recession

This is a list of notable financial institutions worldwide that were severely affected by the Great Recession centered in 2007–2009. The list includes banks (including savings and loan associations, commercial banks and investment banks), building societies and insurance companies that were:

  • taken over or merged with another financial institution;
  • nationalised by a government or central bank; or
  • declared insolvent or liquidated.

(more…)

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The “too big to fail” theory asserts that certain corporations, particularly financial institutions, are so large and so interconnected that their failure would be disastrous to the greater economic system, and that they therefore must be supported by government when they face potential failure. — Wikipedia

THE AIG RESCUE, ITS IMPACT ON MARKETS, AND THE GOVERNMENT’S EXIT STRATEGY

CONGRESSIONAL OVERSIGHT PANEL
JUNE OVERSIGHT REPORT*

JUNE 10, 2010.—Ordered to be printed

EXECUTIVE SUMMARY*
At its peak, American International Group (AIG) was one of the largest and most successful companies in the world, boasting a AAA credit rating, over $1 trillion in assets, and 76 million customers in more than 130 countries. Yet the sophistication of AIG’s operations was not matched by an equally sophisticated risk-management structure. This poor management structure, combined with a lack of regulatory oversight, led AIG to accumulate staggering amounts [liabilities], (more…)

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