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Tag Archives: bailout
Trying to Save Monte Paschi – Oldest Bank in the World
Trying to Save Monte Paschi – Oldest Bank in the World The EU Commission is looking to bailout Monte Paschi by almost eliminating more than 5,000 jobs. The Monte Paschi plan that was presented last October called for 2600 layoffs. It is the oldest surviving bank in the world and the third largest Italian commercial and retail bank […]
Hayes: “A Lot Of What I Know Even The DOJ Is In The Dark”
Hayes: “A Lot Of What I Know Even The DOJ Is In The Dark” An exclusive excerpt from the hot new financial and legal thriller “The Spider Network” by David Enrich The small ski resort town, nestled in the mountains outside the city of Karuizawa, was a popular destination for day trips for Japanese families. Bustling during the […]
How Solid are Canada’s Big Banks?
How Solid are Canada’s Big Banks? The World Economic Forum consistently ranks Canada’s banks among the world’s safest. Competent regulators have overseen stress tests, tightened lending standards and delinquency rates are low. Demographics are good and the country’s diversified economy is backed by a treasure of oil, wood, gold and other natural resources. So the […]
UBS Warns: Spain’s “Most Italian Bank” Runs Out of Options
UBS Warns: Spain’s “Most Italian Bank” Runs Out of Options The bank-bailout business rages on. During the first week of 2017, Spain’s “most Italian bank”, Banco Popular, got off to a flying start as its stock outperformed all other major Spanish banks. By Jan 5th its shares had even crossed the €1-line for the first […]
Bank Bailout Balloons, Tab for Italian Banking Crisis Soars
Bank Bailout Balloons, Tab for Italian Banking Crisis Soars Monte dei Paschi di Siena sinks deeper into the mire. Over the Christmas holidays, when no one was supposed to pay attention, and when the markets were closed, the bailout costs of Monte dei Paschi di Siena, the third largest bank in Italy, and the center […]
Merkel Says No Aid for Deutsche Bank; Depositor Bail-In Coming Up?
Merkel Says No Aid for Deutsche Bank; Depositor Bail-In Coming Up? The €72 trillion (notional) derivatives mess known as Deutsche Bank remains under severe pressure. It’s market cap is $17.43 billion. It has no earnings and pays no dividend. On April 23, Deutsche Bank was Fined $2.5 Billion over LIBOR rate rigging. Twenty-one people face criminal charges following […]
Monte Paschi Rescue On The Rocks: Regulators Now “Expect Bank To Ask Italy For Bailout”
Monte Paschi Rescue On The Rocks: Regulators Now “Expect Bank To Ask Italy For Bailout” Ever since two months ago, when Italy’s third largest bank – and the world’s oldest – Sienna’s Monte dei Paschi, failed Europe’s latest stress test, it had scrambled, and assured markets, that it would obtain a private sector cash injection, […]
“We Won’t Be Lectured” – Italy’s Renzi To Defy Brussels Over Banking Bailout
“We Won’t Be Lectured” – Italy’s Renzi To Defy Brussels Over Banking Bailout With all eyes distratcted by the post-Brexit euphoria, the last week has seen a far more existential crisis accelerating in Europe. Italy’s banking system is in tatters (from a EUR40bn bailout 6 days ago, to EUR150 emergency support 3 days ago, to a bank bailout […]
Italy Just Bailed Out Another Failed Bank, May Use Pension Funds For Future Bank Rescues
Italy Just Bailed Out Another Failed Bank, May Use Pension Funds For Future Bank Rescues Despite – or perhaps due to – Italy’s failed attempt to slide a state-funded €40 billion recapitalization attempt past Angela Merkel while blaming it on Brexit, and coupled with a bailout proposal to provide €150 billion in liquidity to insolvent […]
Is Europe In Trouble Again: Hints Of Portuguese, Italian Bank Bailouts Suggest Not All Is Well
Is Europe In Trouble Again: Hints Of Portuguese, Italian Bank Bailouts Suggest Not All Is Well In the aftermath of Germany refusal to allow Italy to breach Eurozone regulations, and provide its banks with up to €40 billion in new capital, Italy has unveiled a new track to handle its insolvent banks and as Reuters reports, the […]
German Study Proves It – 95% of Greek “Bailout” Money Went to the Banks
German Study Proves It – 95% of Greek “Bailout” Money Went to the Banks I simply cannot stress enough how important Greece is to freedom, liberty and civilization across the globe. Greece is not a one-off, or merely a small nation in big trouble that holds little relevance for the rest of us. Greece is everything. […]
First Ocean Freight Rates Collapse to “Zero,” China Freight Index Plunges to Record Low, Bailouts Loom
First Ocean Freight Rates Collapse to “Zero,” China Freight Index Plunges to Record Low, Bailouts Loom The next stage of “Moral Hazard?” The amount it costs to ship containers from China to ports around the world has plunged to historic lows. As container carriers are sinking deeper into trouble, whipped by lackluster global demand and rampant oversupply […]
Lies, Damn Lies, and European Growth Statistics
Lies, Damn Lies, and European Growth Statistics ATHENS – “Greece has at last returned to economic growth.” That was the official European Union storyline at the end of 2014. Alas, Greek voters, unimpressed by this rejoicing, ousted the incumbent government and, in January 2015, voted for a new administration in which I served as finance […]
Prelude to a Bailout
Prelude to a Bailout But is Pemex too big to save for Mexico? Mexico’s biggest company, state-owned oil giant Pemex, notched up 13 consecutive quarters of rising losses and now faces the toughest test of its 78-year existence: staying alive. Pemex just published its annual results for 2015. Even with expectations already at the bottom of the […]
