“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:
Get used to driving at 40mph, says top UK highways official
Two Japanese airlines to disregard China air zone rules
Argentina's Bond Yields Lure Back Buyers [March 2014]
Peru devotes $35 million to protect coffee farmers from fungus
Ron Paul: "I Smell Iraq All Over Again"
Residents, politicians push to shut Satoshi Forest homeless camp
Romney Family Investment Ties To Voting Machine Company That Could Decide The Election Causing Conce...
Sputtering War on Drugs In Afghanistan
Danish mayor and police at odds over cannabis approach
Angela Merkel approves Germany's first minimum wage
Iraq demands U.S. energy giant ExxonMobil end deal with Kurdistan
Evaluating Drug Decriminalization in Portugal 12 Years Later
Detroit undercover cops brawl in drug sting gone wrong
The IMF Lays The Groundwork For Global Wealth Confiscation
Bernard Madoff Haunts JPMorgan's Earnings