Morning Roundup: Make It a Blockbuster Bankruptcy

  • Movie-rental chain Blockbuster has filed for Chapter 11 bankruptcy, partly because Netflix sends DVDs to people’s houses instead of making them drive to a store, and partly because a really smart company called Coinstar started putting DVD vending machines in supermarkets. [Bloomberg]
  • Could the Securities and Exchange Commission have filed its high-profile lawsuit against Goldman Sachs to distract from its failed investigation into Allen Stanford’s alleged $7 billion Ponzi scheme? SEC inspector general David Kotz says the timing is “suspicious.” [WSJ]
  • Adorable billionaire Warren Buffett thinks the U.S. is still in a recession. This opinion puts him at odds with the official recession arbiter, the National Bureau of Economic Research, but in line with our nation’s general sense of economic despair. [CNBC]
  • Some new consumer protections stemming from federal health-care reform legislation kicked in today. It is now illegal to deny health coverage to children with pre-existing conditions and insurers are no longer allowed to drop people’s health coverage just because they get really sick. [AP]
  • Ireland’s GDP fell 1.2 percent in the second quarter. Oh, and look, the cost of buying insurance against a default by the debt-addled country just went up. [MarketWatch]
Morning Roundup: Make It a Blockbuster Bankruptcy