bank run

Barron's Roundtable member Felix Zulauf spoke to the German-language Handelsblatt about the European sovereign debt crisis and financial markets in an article published today. Like Jeremy Grantham, he has turned bearish. Below is my…

The Absolute Return Letter, March 2011 By Niels Jensen “Experience is the name everyone gives to their mistakes” Oscar Wilde A remarkable month Two remarkable events unfolded during the month of February. One cleared…

Here is a good video from Bill Black on the origins of the Savings & Loan crisis in the U.S. The roots of the crisis go back to the stagflation of the 1970s when interest rates spiked under Paul Volcker. As S&L's borrowed short and…

I am still in catch-up mode this morning but I wanted to highlight a few points on the Irish bailout. The first has to do with the European stress tests. If you recall, the two Irish banks tested were Bank of Ireland and Allied Irish…

Sorry, the post title is over the top. Actually, let's hope there are no riots. There is certainly anger on display in the Guardian video clip below.  So far these are pretty tame protests.     Here are the things I…

We can see it’s still all about the banks in Ireland. This deposit debt guarantee issue is still the critical one. The Irish Independent is talking about total nationalisation of AIB because of the ‘bank run’ hitting Ireland.  And…

Unless the ECB takes fast and dramatic action, it risks destroying the currency it is paid to manage, and allowing a political catastrophe to unfold in Europe. If mishandled, Ireland could all too easily become a sovereign version of…

Ireland was the first country to offer a blanket guarantee to it’s banks’ depositors. I welcomed this move as a necessary step to restore confidence. However, there are two problems associated with it. As Willem Buiter has…

This is a guest post by Karl Deeter of the Irish Mortgage Brokers Blog. We are reminded by Shane Ross' article in the Sunday Irish Independent "Cowen spins for his political life" that these banking issues are political for…

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…