It looks like the ethanol bailout may not arrive in time to save VeraSun, the firm we spotlighted for losing tens of millions of dollars on bad corn hedges. The stock is down another 33% today to $.70 on reports that it will soon file for bankruptcy.
In more evidence that the parlance of the Wall Street’s bailoutees is spreading, the money-losing company is described by the AP as facing a “liquidity crisis”. Back in the old days, we might have called that “running out of money”.
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