Category: Banks

Bail out? Bail in?: Part 2, Italians aren’t stupid

6 July, 2017 (08:30) | Banks, Capital markets, Eurozone, Global news, Italy, Markets, Recapitalization, Speculation | No comments

  By: David A. Smith   [Continued from the previous Part 1.]   As we saw in Part 1, the Italian government is following in a series of national governments (previously Greece, before that Spain) that when confronted with a Brussels-issued ultimatum, reject it:   “We accept it!” “We reject it!”     Sources used […]

Bail out? Bail in?: Part 1, Investing might be a bad choice of words

5 July, 2017 (09:00) | Banks, Capital markets, Eurozone, Global news, Italy, Markets, Recapitalization, Speculation | No comments

  By: David A. Smith   Is this really going to work?   As a longstanding fan of the snarky voice of Tyler Durden, one of the pseudonymous authors of the financially morbid, always incisive, and scarily provocative Zero Hedge (which, for example, thinks Uber’s market cap is about to collapse like a flash-frozen soufflé), […]

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 […]