bailout

In the continuing coverage of the Spanish bailout, it is time to consider further debt subordination. Earlier, I wrote about the Spanish bailout subordinating private sector creditors. Well, as it turns out, just as in the Greek PSI, UK law bonds and the Negative Pledge are coming back into play....

The Greek debt crisis has been dominating the headlines again, as the Euro Zone came to an agreement on the second Greek bailout deal earlier this week. As a part of this deal, Greece will perform a debt swap and the current debt holders are expected to accept a 53.5% haircut on the bonds they are...

The markets have been all over the map today. A gap down gave rise to a huge spike on ISM economic numbers. This popped the markets to the positive side, only to see them come all the way back down and hit the lows of the day. Since that double bottom, the markets have bounced back up, just...

Do you ever wonder: if the bi-winning Fed secretly engineered the debt-limit crisis, so it can fulfill its dual mandate of lowering US treasuries interest rates and destroying the value of the dollar? why gold bears no interests, but everyone is interested in it? who invented the oxymoron '...

Greece Prime Minister George Papandreou pleaded for unity and strength with his constituents on Sunday, as European Union and IMF officials scrambled to avoid a catastrophic bankruptcy for the Mediterranean country. "The consequences of a violent bankruptcy or exit from the euro would be...

German Parliament voted in favor of approving another bailout for Greece Friday, supporting Finance Minister Wolfgang Schaeuble's request that private creditors share the burden of any potential loss. Schaeuble has argued that Greece should refinance its current bonds for bonds with longer...

Many U.S. dollar bulls are holding onto their bets even though the euro has climbed to a three-week high against the U.S. dollar. The euro went above $1.44 on Wednesday, its highest level against the U.S. dollar since early May. Market commentators are saying the euro is receiving a boost because...

German news source Der Spiegel reported Friday that Greece was looking to leave the Euro as its currency. The news came after finance officials met in Luxembourg. While some economists scoffed at the idea, German sources have encouraged the move. "If Greece were to exit from the euro zone, the...

Greek officials confirmed that there were no plans to restructure its debt on Saturday, despite open concerns by European Union member Germany. “Restructuring is not an issue we're discussing,” Greek Finance Minister George Papaconstantinou said in an April 16 interview in Washington. “The pain...

The New York Fed has sold $1.3 billion worth of subprime mortgage-backed securities (MBS) that it had obtained through the bailout of American International Group (NYSE: AIG). According to the New York Times Dealbook, "The mortgage-backed securities are part of an entity called Maiden Lane II, one...

Goldman Sachs is telling clients in a newly-released note that it sees Portugal being the last European nation to seek a bailout, following Greece and Ireland. Francesco Garzarelli, Goldman Sachs's chief interest-rate strategist said that “We do not expect any other EMU sovereign to be in need of...

Portugal is the latest European nation to seek a financial bailout, citing high interest rates on an increasingly burdensome debt load. "The government decided today to ask the European Commission for financial help," Prime Minister José Sócrates said in a televised statement Wednesday evening....