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The video below from the Wall Street Journal gets at the heart of why the bailouts have been so toxic for the economy. Banks, still laden with existing bad loans to small businesses, are unwilling to make new ones. Businesses, unable to…

FT.com – Spain has the means to avoid Greece's fate FT.com – Mohamed El-Erian – How to handle the sovereign debt explosion BofA under regulatory pressure to shrink: report| Reuters Second Lien Writedowns, II « Rortybomb Discouraged…

The Bloomberg video is a bit sensationalist in my opinion. But it gets to the heart of the problem in Europe, namely Spain. Spain has an economy and debt which is an order of magnitude larger than Greece. That means that problems in Spain…

I have taken a less optimistic view of the credit crisis’ workout phase as evidenced by recent posts like Wood: “The endgame will be a systemic government debt crisis in the western world” and The mindset will not change; a depressionary…

With the anxiety caused by the Greece situation alleviated for the time being by last week's successful auction, words of support from Germany and especially France over the weekend, and follow through gains in the Greek debt market,…

European politicians have revealed that a European Monetary Fund is already in the planning phase. The reports suggest that this fund may be the mechanism through which the Eurozone will defend the sovereign debt of members and impose…

Christopher Wood is bearish on Western stocks but still bullish on emerging Asia, especially India and China. He recommends an overweight Asia – Underweight West position for international investors in large part because he believes the…

Morgan Stanley - Global Economic Forum - Debating Debtflation FT.com - Pandit blames Citi’s woes on short selling Marshall Auerback: A tale of two recoveries – Germany and Malaysia, Part II Stuck in neutral – what Japan’s rebalancing…

This is the first in a series of posts about ideas for financial reform generated by the “Make Markets Be Markets” conference I attended yesterday in New York City on 3 Mar 2010. We heard presentations from speakers like Simon Johnson,…

David Rosenberg takes on the sovereign debt issue in his latest commentary, highlighting the structural deficits in the U.S. and the U.K. They are actually higher than in Spain or Greece. Greece here, Portugal there. Did you know that…