Category: Bailouts

Twilight at the Groucho Marx club: Part 3, From whatever source

3 August, 2016 (09:00) | Bailouts, Banks, Brexit, Caddyshack, Eurozone, Global news, Greece, Italy, Monte dei paschi, Recapitalization, Speculation, Workouts |

By: David A. Smith   [Continued from yesterday’s Part 2 and the preceding Part 1.]   After the previous two parts, using as source material articles from the Economist (July 3, 2016) and the Wall Street Journal (July 27, 2016; blue font). It has become apparent that though Italy is by no means an equal […]

Twilight at the Groucho Marx club: Part 2, New rules bent the first time they are tested

2 August, 2016 (09:00) | Bailouts, Banks, Brexit, Caddyshack, Eurozone, Global news, Greece, Italy, Monte dei paschi, Recapitalization, Speculation, Workouts |

By: David A. Smith   [Continued from yesterday’s Part 1.]   In yesterday’s Part 1, I returned to the Eurozone’s continuing slow train wreck of the Eurozone, where one country after another promises improved behavior, then cannot achieve its promise.   Judge Smails: You know, despite what happened, I’m still convinced you have many fine […]

Twilight at the Groucho Marx club: Part 1, That was always the plan

1 August, 2016 (09:13) | Bailouts, Banks, Brexit, Caddyshack, Eurozone, Global news, Greece, Italy, Monte dei paschi, Recapitalization, Speculation, Workouts |

By: David A. Smith   When in a moment of financial exuberance you join that exclusive club whose members and surroundings you’ve envied for years you seldom think of the downside.  No, once you’re In you’ll capitalize on all those Insider opportunities, and now that you’ve managed to raise the initiation fee, the ongoing dues […]

The bankruptcy lottery: Part 7, Without fear of reprisal

15 July, 2015 (10:00) | AIG, Bailouts, Bankruptcy, Chapter 11, Credit default swap, Federal Reserve, Geithner, Illegal extractions, Insurance, Law, Lehman Weekend, Speculation, Takings clause, TARP, US News |

[Continued from yesterday’s Part 6 and the preceding Part 1, Part 2, Part 3, Part 4, and Part 5.] By: David A. Smith The children had stones already. And someone gave little Davy Hutchinson few pebbles. – Shirley Jackson, The Lottery Now, after six parts of establishment – important, nonetheless, like your vegetables – we […]

The bankruptcy lottery: Part 6, Equity would have been worthless

14 July, 2015 (10:00) | AIG, Bailouts, Bankruptcy, Chapter 11, Credit default swap, Federal Reserve, Geithner, Illegal extractions, Insurance, Law, Lehman Weekend, Speculation, Takings clause, TARP, US News |

[Continued from yesterday’s Part 5 and the preceding Part 1, Part 2, Part 3 and Part 4.] By: David A. Smith “It’s Tessie,” Mr. Summers said, and his voice was hushed. “Show us her paper. Bill.” Bill Hutchinson went over to his wife and forced the slip of paper out of her hand. It had […]