“Winners and losers are emerging from the energy bust. What’s a meal for Clark is indigestion for banks that financed the boom using oil and gas properties as collateral. The four biggest U.S. banks — Bank of America Corp., Citigroup Inc., JPMorgan Chase & Co. and Wells Fargo & Co. — have set aside at least $2.5 billion combined to cover souring energy loans and have said they’ll add to that if prices stay low. There’s plenty to keep Clark bargain-hunting. Last year, 42 U.S. energy companies went bankrupt, owing more than $17 billion, according to a report from law firm Haynes & Boone.
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Tip Freedomwat.ch Staff with Bitcoin
Related posts:
FTC Begins Sanctions Against Insecure Internet-Connected Device Companies
India says not considering immediate gold import duty cut
University in Cyprus First to Accept Bitcoin Payments, Offer Bitcoin Degree
Tax-free zones created around 8 NY colleges under Start-Up NY
UK troops deny mutilating Iraq insurgents’ corpses
Indian government now snooping on SMSs, online chats
Mt. Gox Suitors Launch Last-Ditch Bid To Revive Bitcoin Exchange
NATO: No Sign Russian Troops Are Pulling Back From Ukraine
Thousands of protesters call for Yemen to be broken up
Spain: This Is What A Permanent Underclass Looks Like
Why going to 7-Eleven has become a political act
Most Americans back NSA, prioritize surveillance over privacy
Goldman Has a New Product to Bet on the Next Banking Crisis
U.S. Sentencing Commission expected to recommend lower sentences for drug dealing
Digital River may buy into Bitcoin