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Olduvai III: Catacylsm
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Italian Taxpayers To Foot €17 Billion Bill As Rome Bails Out Another Two Insolvent Banks

Italian Taxpayers To Foot €17 Billion Bill As Rome Bails Out Another Two Insolvent Banks Two weeks after the first, and biggest, European bank bail-in took place under the relatively new European bank resolution mechanism, the EBRD, when Spain’s Banco Popular wiped out the holders of its most risky securities, including equity and AT bonds, […]

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Is Another Spanish Bank about to Bite the Dust?

Is Another Spanish Bank about to Bite the Dust? Stockholders and junior bondholders fear a “bail-in.” After its most tumultuous week since the bailout days of 2012, Spain’s banking system is gripped by a climate of fear, uncertainty and distrust. Rather than allaying investor nerves, the shotgun bail-in and sale of Banco Popular to Santander […]

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Two Outs in the Bottom of the Ninth

Two Outs in the Bottom of the Ninth The housing market peaked in 2005 and proceeded to crash over the next five years, with existing home sales falling 50%, new home sales falling 75%, and national home prices falling 30%. A funny thing happened after the peak. Wall Street banks accelerated the issuance of subprime […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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