Fed's Seize Silverton Bank #30 and it is a whopper

http://www.businessinsider.com/feds-seize-atlantas-silverton-bank-2009-5

Corus Warns of receivership.

http://southflorida.bizjournals.com/southflorida/stories/2009/04/27/daily73.html
Corus Warns of receivership. $7.7 Billion in assets.

Why it was good Obama lost in the chyrsler Deal

http://www.businessinsider.com/the-hedge-funds-were-right-to-fight-to-fight-obama-2009-5

How to lose 7.4 Billion in two years and 6 other fun facts

Fun Fact #1
http://www.cerberuscapital.com/news_press_release_07132007.html
Buy a US automaker at the top of a market.

Fun Fact #2
They are also a secured Bondholder, who will take a major loss of somewhere around .50 - .70 on the dollar.

Fun Fact #3
http://dealbook.blogs.nytimes.com/2009/04/30/a-roadmap-to-a-chrysler-bankruptcy/
The people of broke the government deal will likely drag out the bankruptcy costing more money from the government in DIP financing then proposed or in a worse case force liquidation. Since the are in the front of the line it will get ugly.

Fun Fact #5
http://money.cnn.com/2009/04/30/autos/chrysler_dead_or_alive.fortune/index.htm?section=magazines_fortune
One of the worlds weakest automakers is taking over.

Fun Fact #6
The unions will be in charge, which in the past has almost never worked out as the cut themselves sweetheart deals.

GM and the bondholders close to a deal?

http://seekingalpha.com/article/134239-gm-bondholders-think-they-deserve-more-equity-where-to-begin

WHO goes to level 5, One more level Above.

http://www.businessinsider.com/global-swine-flu-pandemic-imminent-2009-4

Chrysler Talks Seen on the Rocks as Deadline Looms

http://www.cnbc.com/id/30488685

So we are preparing to go over the edge we did not in the 80's. Hold on tight.