Gambler s Ruin

They survived piracy on the open seas, a murderous attack by Israeli commandos and unlawful detention in an Israeli jail.

Their speculative frenzies ruined shareholders, customers, and the economy.

A bankrupt Conference on Disarmament will eventually lead to an insolvent Treaty unless other multilateral channels are found to advance its disarmament agenda.

To halt this downward spiral, Ireland s risk of insolvency needs to be put to rest.

The same is true of financial institutions, as the Lehman bankruptcy showed.

The demise of Lehman disrupted the commercial paper market.

For China now has a bankruptcy code with teeth, and the country s courts are beginning to enforce it with rigor.

There is an equally important need to distinguish between state insolvency and illiquidity.

The distress following the failure of Lehman Brothers would have been an obvious occasion.

Excessive rural credit was one of the important causes of bank failures during the Great Depression.

And the largest cost of major bank failures is not the subsidy, or the cost of a bailout.

The improved resilience may be seen in fewer bank failures and more consistent credit provision.

Since then, Putin has sought to expose the bankruptcy of America s policy of isolating Iran.

But then it shot up again following the failure of Bear Stearns and the problems with AIG.

Some authors defend Bolívar's enactment, justifying that resources were provided to a State that was in a state of almost insolvency.

The latest package to cope with Greece s insolvency offers a bond buyback to lighten the country s debt burden.

Declining profits and rising enterprise bankruptcies are posing challenges to China s monetary authority.

The for profit market has experienced a crisis of confidence in recent years following the bankruptcies of the major Nova.

CHICAGO The biggest financial nightmare looming over the world economy is the insolvency of a large international bank.

The Law on Enterprise Bankruptcy (Trial Implementation), the first of its kind, was enacted in 1986.

The frequent and spectacular early modern bankruptcies of the French and Spanish monarchies concerned for the most part debt owed to foreigners.

The reality is that world trade would suffer far greater damage from the global economic fallout of a Big Three bankruptcy.

Perhaps they should bear in mind Ernest Hemingway s description of how a man goes broke slowly, then all at once.

Barely a year after the bankruptcy of Lehman Brothers, financial markets have stabilized, stock markets have rebounded, and the economy is showing signs of recovery.

That means more debt restructuring and more bank closures now, rather than watering down proposals to rein in freewheeling markets.

(c) The processing of bankruptcy applications from businessmen the investigation of negligent or fraudulent bankruptcies and the initiation and prosecution of criminal proceedings in accordance with the procedures established by law

Manufacturing production has plummeted, the trade balance has deteriorated sharply, and corporate bankruptcies are increasingly frequent.

The increased indebtedness of households is already leading to higher bankruptcy rates, and will likely dampen the recovery.

Obstfeld had in mind a bailout mechanism for banks, but it is now abundantly clear that one also needs a lender of last resort and a bankruptcy mechanism for states and municipalities.

Between July 2005 and September 2008 (before Lehmann Brothers bankruptcy), the renminbi appreciated 22 against the dollar.

That is what destroyed AIG, and what led to the recent bankruptcy of Abitibi Bowater and the pending bankruptcy of General Motors.

The Lehman Brothers bankruptcy created an extraordinary and immediate demand for additional bank capital, which the private sector could not supply.

But, in a way, the Russian soldiers there are already hostages not least to the Kremlin s bankrupt foreign policy.

In case of insolvency, a bank s computers would not be turned off, its employees would not instantly be dismissed, and payment transactions would not collapse.

But excessive indebtedness and losses on the risky investments that had been made triggered the global financial crisis and led to the failure, or near failure, of many major financial institutions.

At a small company, such behavior would likely cause the company to go bankrupt, and thus cost the manager his job, so he would not make such a decision.

As markets failed, calls for ethical regulation of the quest for profit has become justified not only in principle, but also in fact.

We are now in a strange period in which governments, bankers, and journalists herald the end of the crisis just because large banks are no longer failing every week.

That reflects the small probability that the market is assigning to the occurrence of a full blown financial crisis with bankruptcies and bank failures.

If the losses are big enough that existing equity and debt holders are wiped out, government insurers should make up the difference to protect depositors.

Some outcomes, like the marriage of Bank of America and Merrill Lynch, are happier than others, like the bankruptcy of Lehman Brothers. But, either way, there will be downsizing.

It was the complete collapse of trade credit that sent global commerce into a tailspin for half a year after the failure of Lehman Brothers in September 2008.

In extreme cases, as in Ireland (one hopes not in Spain), the need to save the banking system can bankrupt an entire country.

SANTIAGO European leaders, faced with the reality of an insolvent Greece, are reportedly now considering a Plan B that would involve reducing the burden of its future debt payments.