Category: Banks

The demise of deposit insurance: Part 4, “An odd definition of private property”

10 October, 2013 (09:00) | Banks, Cyprus, deposit insurance, deposits, Eurozone, Global news, Law, Markets, Recapitalization, Russia, Speculation, Uncategorized | 1 comment

By:David A. Smith   [Continued from yesterday's Part 3 and the preceding Part 1 and Part 2 .]   As shown in the previous posts, using as a starting point a recent New York Times (August 22, 2013) article on the bank recapitalization mess in Cyprus and how the result has delivered Cyprus’s largest bank into the hands […]

The demise of deposit insurance: Part 3, “As a last resort”

9 October, 2013 (11:42) | Banks, Cyprus, deposit insurance, Eurozone, Global news, Law, Markets, Recapitalization, Russia, Speculation |

By:David A. Smith   [Continued from yesterday's Part 2 and the preceding Part 1.]   As we’ve seen in the two preceding days’ posts, courtesy of a New York Times (August 22, 2013), the fulminations of a certain blogger notwithstanding, the Eurozone’s paymasters have concluded that their Cypriot experiment in capital confiscation has done relatively well […]

The demise of deposit insurance: Part 2, “Not in the cold war anymore”

8 October, 2013 (10:44) | Banks, Cyprus, deposit insurance, deposits, Eurozone, Global news, Law, Markets, Recapitalization, Russia, Speculation, Uncategorized |

  By:David A. Smith   [Continued from yesterday's Part 1.]   In yesterday’s post revisiting the Cyprus bank bail-in fiasco six  months after the fact, courtesy of a New York Times (August 22, 2013) story from a month ago, we discovered that the Eurozone’s financial and political leaders, determined to ‘punish’ Russian depositors for (in […]

The demise of deposit insurance: Part 1, “Whoever controls the bank controls the island”

7 October, 2013 (13:38) | Banks, Cyprus, deposit insurance, deposits, Eurozone, Global news, Law, Markets, Recapitalization, Russia, Speculation |

By:David A. Smith   After eight decades of somnolence, the world is waking up to the consequences of using the unwitting misnomer ‘deposit,’ and neither the public at large nor the policy makers have thought their way to the eventual endgame – or if they have, they’re keeping it very quiet, and the result is […]

Month in Review: March, 2013

17 May, 2013 (14:29) | Bankruptcy, Banks, Cities, Crime, Cyprus, Detroit, Euro, Land use, Month in review, New York City, Post Office, ratings agencies, Slums, Urbanization | 2 comments

By:David A. Smith   [Previous Months in Review available here: Feb 13, Jan 13, Dec 12, Nov 12, Oct 12, Sep 12, Aug 12, Jul 12, Jun 12, May 12]   During March, the Department of Justice sued Standard & Poor’s, an action that was five billion dollars’ worth of overdue, and included legislation with […]