Source: Racket News
by Eric Salzman
“There are still two months left in 2025 but unless something intergalactically stupid happens soon, the collapse of First Brands Group Holdings will take home the prize of 2025’s most embarrassing moment of the year for Wall Street. First Brands, an owner of 24 auto-supply companies, including Fram oil filters, Anco windshield wipers, Autolite spark plugs, and Centric brakes, managed to create a financial disaster that might exceed $10 billion in losses. Major players in commercial bank lending, private credit lending, investment banking, fund management, credit insurance and public accounting have taken a bite of the rotten apple.” (10/27/25)