Keyword: bankruptcy

Blocked Exit (3/7/2002)

Inefficient firms in mature industries often are preserved for political reasons long after they should have exited the market.

Keywords: bankruptcy, capacity reduction, Chapter 11, consolidation, exit, glut, import tariffs, market exit, overcapacity, steel industry, steel summit

Risk Shifting (6/22/2006)

Defined-contribution pension plans increase labor mobility and facilitate the revival of old businesses in the face of massive industrial restructuring and longer life expectancy.

Keywords: bankruptcy, Chapter 11, defined benefit, defined contribution, IBM, insurance, investment returns, legacy cost, pension plan, PGBC, portability, retirement, risk, risk shifting

Too Big to Fail (6/18/2010)

Some financial institutions could commit moral hazard by leveraging their implicit high credit ratings and tax-payer guarantees to load up on high-risk debts and obligations.

Keywords: AIG, bailouts, bankruptcy, Citibank, credit default swaps, credit ratings, Fannie Mae, FDIC, Freddie Mac, JP Morgan Chase, leverage, Moral hazard, securitized debt, subprime mortgage, too big to fail