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Keyword: bankrupt

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  • Closure of Border Patrol Stations Across Four States Triggers Alarm

    07/11/2012 11:37:23 AM PDT · by ex-Texan · 20 replies
    Fox News ^ | 7/11/2012 | By Judson Berger
    The Obama administration is moving to shut down nine Border Patrol stations across four states, triggering a backlash from local law enforcement, members of Congress and Border Patrol agents themselves. * * * [One] soon-to-be-shuttered station in Amarillo, Texas, is right in the middle of the I-40 corridor; another in Riverside, Calif., is outside Los AngelesU.S. Customs and Border Protection says it's closing the stations in order to reassign agents to high-priority areas closer to the border. * * *
  • Budget Insanity

    07/11/2012 4:16:49 AM PDT · by Kaslin · 31 replies ^ | July 11, 2012 | John Stossel
    Last year, Congress agreed to $1.2 trillion in automatic spending cuts, unless politicians find other things to cut. They didn't, of course. So now, with so-called sequestration looming in January, panic has set in. Even the new "fiscally responsible" Republicans vote against cutting Energy Department handouts to companies like Solyndra and subsidies to sugar producers. Many claim that any cut in military spending will weaken America and increase unemployment. It's another demonstration of the politicians' addiction to spending -- and how we are complicit. "One more infrastructure bill" or "this jobs plan" will jumpstart the economy, and then we'll kick...
  • Barack Obama Keeps Campaign Promise – Patriot Coal Corp Files For Bankruptcy

    07/10/2012 2:10:04 PM PDT · by KeyLargo · 35 replies
    The Gateway Pundit ^ | July 10, 2012 | Jim Hoft
    Barack Obama Keeps Campaign Promise – Patriot Coal Corp Files For Bankruptcy Posted by Jim Hoft on Tuesday, July 10, 2012, 5:57 AM A one man wrecking crew– Barack Obama promised to bankrupt the coal industry during the 2008 campaign. “So if someone wants to build a coal-powered plant, they can. It’s just that it will bankrupt them.” On Monday Patriot Coal Corp filed for bankruptcy. Barack Obama kept this promise. Reuters reported: Patriot Coal Corp filed for bankruptcy on Monday, the first U.S. coal producer to seek court protection since prices began to plummet as electricity producers turned to...
  • Essential Air Service House Chamber, Washington, D.C.

    06/27/2012 2:36:56 PM PDT · by Congressman Tom McClintock
    Congressman Tom McClintock ^ | June 26, 2012 | Congressman Tom McClintock
    Mr. Chairman: If the House is to live up to the promises the Republican majority made to the American people to bring spending under control, some tough choices are going to have to be made. But this amendment isn’t one of them. This is about the easiest choice the House could possibly make: to put an end to the so-called “Essential Air Service” that lavishly subsidizes some of the least essential air services in the country. This program shells out nearly $200 million a year – including $114 million of direct taxpayer subsidies – to support empty and near-empty flights...
  • Obama’s Fannie Mae failure

    06/17/2012 2:26:57 PM PDT · by TurboZamboni · 5 replies
    salon ^ | 6-15-12 | andrew leonard
    Amid all the rhetoric and posturing that have accompanied every twist and turn of the great housing bust and the ensuing slow, stuttering recovery of the United States economy, a comment made last week by new Fannie Mae CEO Tim Mayopoulos to the Wall Street Journal might have seemed consequential only to the most wired-in housing wonk. ”From my perspective, I don’t believe we need principal reduction to modify loans and make [modifications] work for homeowners,” Mr. Mayopoulos said.
  • "The End Game: 2012 And 2013 Will Usher In The End" - The Scariest Presentation Ever?

    05/31/2012 6:25:01 PM PDT · by SatinDoll · 58 replies
    The Zero Hedge ^ | 5/31/2012 | Tyler Durden
    If Raoul Pal was some doomsday spouting windbag, writing in all caps, arbitrarily pasting together disparate charts to create 200 page slideshows, it would be easy to ignore him. He isn't. The founder of Global Macro Investor "previously co-managed the GLG Global Macro Fund in London for GLG Partners, one of the largest hedge fund groups in the world. Raoul came to GLG from Goldman Sachs where he co-managed the hedge fund sales business in Equities and Equity Derivatives in Europe... Raoul Pal retired from managing client money in 2004 at the age of 36 and now lives on the...
  • Americans: Too broke to go bankrupt

    05/07/2012 8:01:47 AM PDT · by crosshairs · 18 replies
    Yahoo ^ | 5/7/12 | Blake Ellis
    This year, hundreds of thousands of Americans are expected to be too broke to file for bankruptcy. The average cost to file for Chapter 7 bankruptcy protection, the most common form of consumer bankruptcy, is more than $1,500, according to recent research submitted to the National Bureau of Economic Research. As a result, anywhere between 200,000 and one million consumers are estimated to be unable to afford that steep cost this year. The research, conducted by a group of professors from Columbia University, the University of Chicago and Washington University in St. Louis, examined how bankruptcy filings spiked after people...
  • Retired College Teacher With $152,000 Pension Claims Pension Reform is Theft (Illinois)

    05/02/2012 5:07:10 AM PDT · by KeyLargo · 62 replies
    Champion News ^ | Apr 27, 2012 | Bill Zettler
    Retired College Teacher With $152,000 Pension Claims Pension Reform is Theft April 27, 2012 By Bill Zettler Michael Corn, a retired college teacher, recently wrote a letter-to-the-editor at the Daily Herald equating the unfunded Illinois pension system with theft. And I agree it is theft but I would argue the thief is the public employee not the legislature or taxpayer as Mr. Horn claims. Mr. Corn laments that he paid 8% for his pension and for that unholy contribution he feels he has earned his $12,707.59 monthly pension or $152,490.84 per year. Mr. Corn paid his 8% for all of...
  • Why Comrade Brown's People's Socialist Republic of California is Broke as a Joke

    04/26/2012 8:50:46 AM PDT · by Reaganite Republican · 12 replies
    Reaganite Republican ^ | April 26, 2012 | Reaganite Republican
    Current list of California state agencies: California Academic Performance Index (API) * California Access for Infants and Mothers * California Acupuncture Board * California Administrative Office of the Courts * California Adoptions Branch * California African American Museum * California Agricultural Export Program * California Agricultural Labor Relations Board * California Agricultural Statistics Service * California Air Resources Board(CARB) * California Allocation Board * California Alternative Energy and Advanced Transportation Financing Authority * California Animal Health and Food Safety Services * California Anti-Terrorism Information Center * CaliforniaApprenticeship Council * California Arbitration Certification Program * California Architects Board * California...
  • When Has Romney EVER Done A Tough Conservative Thing? SS Fund Bankrupt by 2016

    04/24/2012 3:49:09 PM PDT · by rightjb · 2 replies ^ | 4/24/2012 | Libertarian Neocon (@LibNeocon)
    The Wheels Are Already Coming Off: Social Security Disability Insurance Fund to Go Bankrupt by 2016 |And We Have No Confidence Obama or Romney Would Know What To Do
  • Ann Barnhardt on Green Energy Bankruptcies

    04/24/2012 11:34:51 AM PDT · by ml/nj · 30 replies
    Ann Barnhardt ^ | Apr 23, 2012 | Ann Barnhardt
    I just want to point something out that I'm not sure people are appreciating. All of these so-called "green energy" companies that Obama throws billions of dollars at and then file for BK - these companies are taking less than 18 months to go from signing the papers for the government loans to full-liquidation BK. The speed with which these companies collapse is, in and of itself, proof that these companies are set up PURELY as mechanisms to loot the United States Treasury. They were never intended to actually produce anything. They are shells that are set up to fail....
  • Public Unions Bankrupt Illinois

    04/24/2012 8:29:07 AM PDT · by Kaslin · 18 replies ^ | April 24, 2012 | Mike Shedlock
    Governor Pat Quinn rammed through the largest tax hikes in Illinois history last year. On January 13, 2011, Governor Pat Quinn signed off on a 67% hike in personal income taxes and a 46% hike in corporate taxes. The result is not what the governor thought. Businesses have fled, more have threatened to leave and Quinn responded with sweeteners. Moreover, Illinois pension plans are still the worst funded in the nation, and the state is still struggling to pay bills. Bloomberg reports Illinois ‘Treads Water’ as Unpaid Bills Top $9 Billion
  • Report: Warren Sapp files for bankruptcy, has lost Super Bowl ring

    04/07/2012 8:33:34 AM PDT · by shortstop · 82 replies
    Tampa Bay Times ^ | 04/07/12 | Tampa Bay Times Staff
    Former Bucs defensive lineman Warren Sapp has filed for Chapter 7 bankruptcy in Florida on claims he has racked up millions in debt, reported Friday. One of the most surprising claims in Sapp's filing is that lost his 2002 Super Bowl ring from the championship with the Bucs and his 1991 national championship ring from the University of Miami, TMZ reported. The future Hall of Famer owes more than $6.7 million to various creditors, including hundreds of thousands of dollars in child support payments to at least four women, the celebrity news website reported. He owes $853,000 to the...
  • Another Gov’t-Backed Clean Energy Co. Touted by Obama Admin Goes Bankrupt

    04/02/2012 2:53:49 PM PDT · by Nachum · 14 replies
    The Blaze ^ | 4/2/12 | Becket Adams
    A California solar energy company that was unable to meet a deadline for an Energy Department loan guarantee last year has sought bankruptcy protection in Delaware. “Solar Trust of America LLC…holds the development rights for the world’s largest solar power project,” Reuters reports, “which last April won $2.1 billion of conditional loan guarantees from the U.S. Department of Energy. It is unclear how the bankruptcy will affect that project [emphasis added].” Solar Trust of America’s Chapter 11 filing on Monday listed assets between $1 million and $10 million, and liabilities between $10 million and $50 million. “We have been working...
  • White House gives up more Solyndra docs (only the third time)

    02/03/2012 10:39:51 PM PST · by Libloather · 4 replies
    The Hill ^ | 2/03/12 | Andrew Restuccia, Ben Geman
    White House gives up more Solyndra docsBy Andrew Restuccia and Ben Geman - 02/03/12 06:45 PM ET Amid threats by a top House Republican to pursue contempt charges, the White House on Friday sent lawmakers more internal documents related to the $535 million loan guarantee to failed solar firm Solyndra. The White House, in providing the 313 pages of documents, again denied that approval of the loan guarantee in 2009 was influenced by politics, an allegation that Republicans have repeated for months. “Notwithstanding the lack of any evidence supporting the Committee’s allegations of favoritism to campaign donors or other alleged...
  • Sugar as Dangerous as Alcohol and Tobacco? (libs: tax sugar)

    02/01/2012 2:55:04 PM PST · by EagleUSA · 92 replies
    ABC News ^ | 2/1/2012 | Carrie Gann
    Is sugar as dangerous as alcohol and tobacco? One group of researchers from the University of California, San Francisco, says so. And they are urging a tax on sugary treats and some action by the government to get Americans to cut back on sugar. In an editorial published today in the journal Nature, the UCSF doctors, Robert Lustig, Laura Schmidt and Claire Brindis, said the ballooning rates — and costs — of obesity, diabetes and other diseases, mean it’s time for regulators to lump sugar into the same category as booze and cigarettes and put similar restrictions on its sale...
  • California To Run Out Of Cash In One Month, Controller Warns

    01/31/2012 2:13:45 PM PST · by Zakeet · 45 replies
    Zero Hedge ^ | January 31, 2012 | Tyler Durden
    If anyone is tired of the daily European soap opera with surrealistic tragicomic overtones, they can simply shift their gaze to the 8th largest economy in the world: the insolvent state of California, whose controller just told legislators has just over a month worth of cash left. From the Sacramento Bee: "California will run out of cash by early March if the state does not take swift action to find $3.3 billion through payment delays and borrowing, according to a letter state Controller John Chiang sent to state lawmakers today. The announcement is surprising since lawmakers previously believed the state...
  • Video: Obama Touts Investment in EnerDel, Now Bankrupt

    01/27/2012 9:40:19 AM PST · by Nachum · 5 replies
    Verum Serum ^ | 1/27/12 | John
    Yesterday I noted that another green energy investment by the Obama administration had gone bankrupt. I posted video of the Vice President visiting the company. Today I’ve got video of the President touting his green investment in Indiana, including the now bankrupt EnerDel. This is from August 2009:
  • United Welfare States of America: In 2011 Nearly Half The Population Recv'd Benefits

    01/23/2012 3:53:49 AM PST · by RobertClark · 1 replies
    ZeroHedge ^ | 01/23/2012 | Tyler Durden
    While politicians may debate whether or not America is the most "generous" (with other generations' money of course) socialist welfare state in the history of mankind, the undoctored numbers make the affirmative case quite clear and without any chance for confusion. The single most disturbing statistic: in 2011 nearly half of the population lived in a household that receives some form of government benefit, which in turn accounted for 65% of total federal spending, or $2.5 trillion, and amount to 15% of GDP. And yet some people out there still think these people, long since indoctrinated to do little but...
  • Obama delays budget for 2013 [third time the administration has missed the legal deadline]

    01/23/2012 12:15:29 PM PST · by Sub-Driver · 29 replies
    Obama delays budget for 2013 By Erik Wasson - 01/23/12 02:08 PM ET President Obama will release his 2013 budget one week late, an administration official said Monday, the third time the administration has missed the legal deadline. Under the law, the budget is to be released on the first Monday in February, but the Office of Management and Budget (OMB) will be releasing the 2013 budget on Feb. 13. The Obama administration also delayed the release of the budget last year, waiting until Feb. 14. House Budget Committee Chairman Paul Ryan (R-Wis.) said the delay is symptomatic of a...