A couple of minor technical problems called “business” and “life” have now intruded on my increasingly bogged down publication schedule that, in the interest...
Read More »
Prudent Germany, the narrative goes, is loath to bail out freeloading Greece, which borrowed more than it could afford and now must suffer the consequences. Would it surprise you to know that Europe’s taxpayers have provided as much financial support to Germany as they have to Greece? An examination of European money flows and...
Read More »
If there was an Academy of Motion Picture Arts and Sciences Award for the best acting performance by a CEO, Jamie Dimon of J.P. Morgan Bank would surely win the Oscar for his dismissal of a $2 billion off-shore derivative loss as “a complete tempest in a teapot.” Dimon tried to use all his...
Read More »
At this point a Greek debt default is virtually unavoidable, and it could happen in a matter of weeks.
The ensuing chain reaction will upend markets around the world and will almost surely lead to more defaults among the European Union's (EU) other debt-plagued nations, collectively known as...
Read More »
The International Monetary Fund (IMF) has made another mistake - a mistake that'll cost U.S. taxpayers a lot of money.
The organization's executive board yesterday (Tuesday) selected French Finance Minister Christine Lagarde as its new leader. A U.S. pledge of support Tuesday morning secured Lagarde's approval. She already had...
Read More »
Fresh signs of a possible default in Greece have revived a contentious debate between politicians and major banks in the European Union over what to do about the Greek debt crisis.
Yesterday (Wednesday) Greek Prime Minister George Papandreou had no success convincing opposition party leaders to support new...
Read More »
In keeping with my primary theme of following developments on the sovereign credit risk and endless backstop front, we go straight to the PIIGS (Portugal, Ireland, Italy, Greece, and Spain). The EU sent out another disclaimer to PIGGS member Greece, warning that no fiscal bailout will be forthcoming. Elsewhere the Dubai bagunca (mess) appears...
Read More »
In keeping with my primary theme of following developments on the sovereign credit risk and endless backstop front, we go straight to the PIIGS (Portugal, Ireland, Italy, Greece, and Spain) front. The EU sent out another disclaimer to PIGGS member Greece, warning that no fiscal bailout will be forthcoming. Elsewhere the Dubai bagunca (mess)...
Read More »
Twitter links powered by Tweet This v1.8.3, a WordPress plugin for Twitter.
Recent Comments