banks

This comes via Win Thin at Brown Brothers Harriman: Fitch downgraded Spain to AA+ from AAA and inexplicably with a stable outlook.  Stable?  Spain should be downgraded multiple notches.  This comes a few weeks after…

Below is a partial list of April FDIC enforcement decisions and orders. I have only included cease-and-desist orders, prompt corrective action notices and termination of insurance orders as these are the signs of banking system distress.

Fiscal austerity is coming to America in due course. The result will be an economic slowdown. It is then we will learn if the bailouts have actually worked.

Marshall Auerback presents us with a perspective on how deficit hawks want to cut social programs but leave defense spending untouched while completely overlooking the fiscal cost of bailouts (originally published at New Deal 2.0). Harold…

Here are two stories that I have picked up on in the last hour that demonstrate how contagion spreads during a panic. Both stories involved the strongest of actors within the Eurozone. The first story is from Spain. The Wall Street Journal…

This post by Paul McCulley,a Managing Director of PIMCO, is from a speech McCulley gave at Levy Institute and it comes via John Mauldin. Edward Harrison has inserted the images. They are not in the original. Enjoy. John Mauldin,…

Last spring and summer I wrote a series of articles on the bleak situation in Spain, centred on the Spanish Cajas (savings banks), the imploded housing market and the high level of unemployment. The gist of these posts was that Spain faced…

As the Chinese government looks to slow the economy, non-performing loans in the banking sector will come into view. Clearly, the Chinese authorities want to slow the pace of house price and consumer price inflation and reduce rampant…

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If you would like to receive our links in real-time please follow me at @edwardnh or go to our site’s News Feed. FT.com - Uncovering the true level of US and UK public pension liabilities Tattling for Dollars: The Ranks of IRS Tax…