How California Fires Affect Power Companies

At the end of August California passed legislation that allows utilities to “securitize” billions of dollars in fire disaster liabilities. Companies will be able to issue bonds to cover fire damages, potentially even when they have failed to follow safety procedures, provided the CPUC agrees.

Lehman Brothers collapse: where are the key figures now?

Ten years ago this weekend the investment bank’s bankruptcy caused panic in US and UK

Ten years ago this weekend Lehman Brothers crashed into bankruptcy – the biggest corporate failure in history – and sent the world’s financial system reeling close to collapse, causing panic among policymakers on both sides of the Atlantic. The US government was forced into a $700bn (£540bn) bailout of the banking sector, while in the UK, Lloyds Bank rescued HBOS and the government was then forced to rescue Lloyds and Royal Bank of Scotland.

A decade on, what has happened to the key players involved in the financial crisis and its aftermath?

In 2009 Fuld sold an apartment in Manhattan for $25m and a collection of art for $13.5m

Paulson has been a severe critic of Trump

Related: Have the ‘too big to fail’ banks really met their Waterloo? | Richard Partington

Only a year after the HBOS crisis Hornby was back in business

Continue reading…