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Recession Officially Over, U.S. Incomes Kept Falling – NYTimes.com
In a grim sign of the enduring nature of the economic slump, household income declined more in the two years after the recession ended than it did during the recession itself, new research has found.
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Max Bank Tests Danish Consolidation Bill as Bail-In Shelved – Bloomberg
Max Bank A/S became Denmark’s first insolvent lender to test a bank package designed to sidestep the country’s bail-in laws after the state was able to find a buyer and avert senior creditor losses.
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Greece activates rescue fund to save Proton Bank | Reuters
(Reuters) – Greece’s central bank said on Monday it activated a bank rescue fund to save Proton Bank, effectively nationalizing the small lender that is under investigation for possible violation of the country’s money-laundering laws.
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Thomas Sargent and Christopher Sims win Nobel economics prize | Science | guardian.co.uk
The American economists are rewarded for their work on ’cause and effect in the macroeconomy’
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interfluidity » The lump of unfairness fallacy
The Obama administration’s response to the crisis was visibly poor in real time. Klein shrugs off the error as though it were inevitable, predestined. It was not. The administration screwed up, and they screwed up in a deeply toxic way.
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FT Alphaville » Erste’s extraordinary loss, and CDS philosophy
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Erste warns of $1 bln loss after debt writedowns | Reuters
Erste Bank will suffer a 500 million-euro ($675 million) loss at Hungarian unit, which will now get about 600 million euros of new equity, following the local government’s move to let its domestic borrowers repay their foreign-currency loans at below market rates.
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Too Big to Fail Not Fixed, Despite Dodd-Frank: Simon Johnson – Bloomberg
To make the FDIC resolution powers credible, large banks should have been made small enough and simple enough to fail.
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As Scorn for Vote Grows, Protests Surge Around Globe – NYTimes.com
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Battersea chimneys at risk of falling – World, Business – Independent.ie
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‘Klanten en spaarders Dexia mogen voor 200 procent zeker zijn’: De Tijd
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Just for the Record: Anti-Mormonism Is Bigotry Too – James Fallows – Politics – The Atlantic
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Belgien übernimmt Dexia – Banken – derStandard.at › Wirtschaft
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England Rugby’s Tuilagi Gets Fine, Police Warning for Auckland Ferry Jump – Bloomberg
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BNP, Socgen deny reported plan to raise $9.4 billion | Reuters