…back in 2008 and early 2009, Spanish regulators were riding high after their country’s banks seemed to have dodged the financial crisis with minimal losses.…
Dimon Says Overconfidence Fueled Loss He Can't DefendBloombergUnder pressure from lawmakers after disclosing the loss on May 10, JPMorgan may test pay provisions to reclaim bonuses and stock compensation from …and more »
Spain’s two-week effort to overhaul its lenders and estimate for what it will cost taxpayers may already look out of date. Economy Minister Luis de…
AFPSpain short-term debt costs to stay high after bank planChicago TribuneMADRID (Reuters) – Spain will pay high premiums to sell short-term debt on Monday, after the government's latest attempt to fix the banking sector failed to allay concerns ab…
Spanish banks announce new provisions following reforms (via AFP) Three top Spanish banks — Santander, CaixaBank and Bankia — Sunday said they would set aside…
This is day three of living in post-NDAA America.
In case you’ve been living under a particularly large and comfy rock, the NDAA is a radical and dangerous bill — which Barack Hussein Obama quietly signed into law on New Year’s Eve, while almost e…
Iceland: From Crisis to Constitution
Yves here. I’m intrigued by the way Iceland’s post crisis experience does not get the coverage it warrants. This is a country whose banking system collapsed and its citizens suffered months of real privation (…
Reuters link
Excerpt:
Because states are sovereign, they cannot declare bankruptcy as cities can, and most have provisions in their constitutions that make defaulting on debt next to impossible.