Bankruptcy

Another $25 Million Vanishes 

We’ve been watching huge sums of money either go missing or disappear from balance sheets lately, whether because somebody is missing payments due them or because they held exposure to a failed firm (or one put into conservatorship, which, really, is the same thing). Of particular interest is the effect of Lehman Bros’ failure on the balance sheets of already-suffering firms. American Banker caught this one, involving some of the corporate credit unions we’ve talked about before: