Bailouts

On Tuesday, Fitch downgraded the long-term issuer default ratings (IDR's) of 18 Spanish banks. This comes just a week after Fitch downgraded Spain's sovereign rating. Fitch is anticipating further deterioration of the banks' loan portfolios, particularly for those heavily exposed to construction...

US stock futures are higher this morning, recouping some losses from yesterday when we saw a 2% reversal in stocks to close on the absolute lows. Stocks opened on high's yesterday, as traders hoped that the Spanish bailout would be a real game changer. However, fears soon rose over the amount of...

Over this past weekend the Spanish government secured $125 billion in bailout funds (Prime Minister Mariano Rajoy prefers to call it a line of credit) to secure the Spanish banks.  The goal was to “ring fence” the banks from any further runs, particularly in light of this...

In the morning primer, I wrote "Stock futures and other risk assets are up overnight as the Eurogroup agreed to a bailout package of the Spanish banks overnight and Chinese data was not as bad as expected following the surprise rate cuts last week." Well, that was a premature reaction. What we...

As the UEFA European Championship, commonly known as Euro 2012, continues through the first matches of the group stage, an interesting pattern arises. Of all sixteen nations in the tournament, only three nations, the Czech Republic, Italy, and Ireland, have not defaulted since the year 1300....

In a report following up on the Spanish bailout, Credit Suisse highlights the good, the bad, and the ugly of the Spanish bailout. It is true that the speed at which this decision was reached was rather speedy for the Europeans, however more is left to be done. Credit Suisse highlights three...

As the European Debt Crisis has now taken down its fourth nation, now batting .800 or four out of five, let us discuss the bailout that may not be as stellar as originally thought. As I wrote on Friday, a European TARP could not work, and so the question became of what shape would the Spanish bank...

Good morning on this Monday, and it is a good Monday as we wake up to see a sea of green. Stock futures and other risk assets are up overnight as the Eurogroup agreed to a bailout package of the Spanish banks overnight and Chinese data was not as bad as expected following the surprise rate cuts...

When you're big, they call it a bailout. Take a look at some of the most influential bailouts of the 21st century. Image courtesy of Plain Green Loans

Can Bank of America (NYSE: BAC) ever catch a break? Apparently not, because now a class-action lawsuit has been filed citing that the firm did not disclose material information relating to the magnitude of the losses at Merrill Lynch, just days before Bank of America shareholders were set to vote...