Wall Street Losing Millions From Bad Energy Loans

Wall Street Losing Millions From Bad Energy Loans
London, UK (SPX) Apr 10, 2015 - Oil companies continue to get burned by low oil prices, but the pain is bleeding over into the financial industry. Major banks are suffering huge losses from both directly backing some struggling oil companies, but also from buying high-yield debt that is now going sour. The Wall Street Journal reported that tens of millions of dollars have gone up in smoke on loans made to the energy indu ... more

---