U.S. Businesses Face Bankruptcy, Bailout: Too Little, Too Late
Larry Flick was recently quoted in Time magazine discussing the result of the recent government bailout. Since the bailout, bankers, lawyers, and credit analysts say that it has done little to ease the credit crunch for
"In the past few weeks, lending has been getting tighter, not looser," says Mr. Flick. "All the moves the government is making to end the credit crisis may have a trickle-down effect, but I am not seeing it yet."
The credit crunch has caused many companies struggling to get financing to be on the brink of bankruptcy. The federal bailout may have been too little, too late.
“Crrrunch! Is Your Favorite Company About to Go Bust?,” by Steven Gandel, appeared in Time magazine on October 22, 2008. For more information, please visit www.time.com.