nationalization

There have been a lot of people talking about Argentina as if it were the model for other governments in sovereign difficulty to follow. Yes, Argentina's decision to default was realistically the right call given the crushing debt load. And…

Much of macroeconomic policymaking is trial and error. This column discusses calamitous error on the part of Iceland’s policymakers, in the hope that others can at least try something else.

Belgian newspaper De Standarad reports that the folks at twice bailed out Franco-Belgian bank Dexia are looking for a new name for the company. Apparently, the Dexia brand has been tarnished. Dexia is Belgium’s version of NCNB, now Bank…

On Friday, I asked why CAM’s credit default swaps were soaring. This is why? Clearly someone had inside information.

If you recall Global Macro Monitor’s post on Europe's Bank Problem last week, the IMF chart showed very well how banks were struggling to wean themselves from short-term funding sources and increase tangible common equity. The Belgians had…

Franco-Belgian bank Dexia is being officially nationalised according to two Belgian newspapers.

Point for point, I agree with the commentary from Felix Zulauf in this week’s Barron’s mid-year roundtable discussion. For long-time Credit Writedowns readers, you will recognize almost every one of these points from previous posts. It is…

by Annaly Capital Management Okay, so this wasn’t the exact headline after GM’s record setting capital raise this week. Including over-allotment option, the offering of common and preferred stock should bring the total dollars raised to…

From Bloomberg: Bill Gross, who runs the world’s biggest bond fund at Pacific Investment Management Co., said the U.S. should consider “full nationalization” of the mortgage- finance system as the Obama administration plots the revival…

Last spring and summer I wrote a series of articles on the bleak situation in Spain, centred on the Spanish Cajas (savings banks), the imploded housing market and the high level of unemployment. The gist of these posts was that Spain faced…