Spanish Bad Bank – 'SAREB' To Pay Steep Discount

Bad Spanish Bank: SAREB El Mundo has: The idea behind the bank is that distressed loans can be handed off to this bank after a haircut. It is expected to yield 15% on equity, due to severe haircuts. We are talking an average rebate of 63%. Building land 79.5%, buildings under construction [...]

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LIBOR Fixing Investigation Appears to be Just Beginning

  The Guardian has: Quote: More than a dozen banks, including Royal Bank of Scotland Group plc (NYSE:RBS), are under investigation by regulators in the US, Europe and Asia for suspected rigging of the London interbank offered rate (Libor), which is used to price trillions of dollars of financial products. Royal Bank [...]

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European Reactions To Obama's Criticism

The American criticism of Europe’s lack of stimulus packages to the economy is receiving anything but understanding in Europe. Angela Merkel quoted in Frankfurter Allgemeine Zeitung: A borrowed growth would bring us right back to the start of the crisis. Krugman’s recommendations invoke a scathing remark from blogger Uffe Ellemann-Jensen (former Danish [...]

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