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Joined 1 year ago
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Cake day: July 16th, 2023

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  • Real people lost their investment and pay because of this. If a company goes bankrupt the employees who are owned money become creditors

    Jones decided Chesapeake was worth about $5.1 billion, a figure closer to the company’s preferred estimate. A lawyer representing the unsecured creditors asked Jones during a January 2021 court hearing to share his calculation.

    “Not a chance,” Jones said. The ruling meant those creditors would be left with almost nothing. Chesapeake listed on the Nasdaq after emerging from bankruptcy the following month. The market valued the company at $7.7 billion.











  • Of course the GOP does not want a rule that will try to prevent their constituents from being financially raped.

    The Labor Department said the rule will require “trusted investment advice providers to give prudent, loyal, honest advice free from overcharges.”

    Under the new rule, these fiduciaries need to avoid giving recommendations “that favor the investment advice providers’ interests — financial or otherwise — at the retirement savers’ expense,” according to the department.