Story | Aug 17, 2014
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Story | Aug 14, 2014 | 9:00 PMThe idea that some banks are "too big to fail" became common in 1984 when Continental Illinois was on the brink of failure. The seventh-largest bank in the U.S. at the time, Continental Illinois had $40 billion in assets, but many of those assets were bad loans, and investor fears of its failure led to a run on deposits that the FDIC responded to with an unprecedented bailout. The FDIC and other regulators feared that a complete collapse of the bank could lead to a larger financial crisis, and to avert that crisis, risk investors (bond holders) as well as insured depositors were bailed out.
Story | Aug 1, 2014 | 3:20 PM
Fiat shareholders approved a merger today that will lead to the creation of a new company Fiat Chrysler Automobiles at a meeting in Turin, Italy. The decision marks the end of an era in Italy as Fiat founded 115 years ago by Giovanni Agnelli exits the...
Story | Jul 22, 2014 | 1:37 PM
A federal appeals court on Tuesday ordered The Travelers Cos. to pay more than $500 million to satisfy asbestos-related claims stemming from the insurer's coverage of insulation maker Johns-Manville Corp, a policyholder that spent six years in...
Story | Aug 5, 2014 | 5:59 PM