• Banks

    Lies, Damn Lies And Nonperforming Loan Levels

    Things are getting better in Spain. Just perhaps not as fast as certain numbers might have you thinking.

    / Jul 14, 2014 at 3:25 PM
  • resort-260x348


    JP Morgan Trader Charged In WhaleGate Might Want To Pack Up His Beach Chair

    When last we checked in with Javier Martin-Artajo, his attorney was telling the press that he was on vacation and had no plans or reason to believe it was necessary to cut said vacation short. Now this is happening:

    / Oct 2, 2013 at 2:08 PM
  • Banks

    For Sale: The ‘Bad’ In Spain’s ‘Bad Bank’

    The bank loans that made Spain what it is today can now be yours.

    / Sep 23, 2013 at 2:37 PM
  • News

    Another Number Goes Up In Spain

    It seems that the unemployed and the failing companies have difficulty paying their bills. But austerity is totally working.

    / Aug 19, 2013 at 3:37 PM
  • News

    Twinkie Economics In Spain

    The good people who used to run Hostess Brands aren’t the only people who came up with the idea of raiding pensions to pay bills:

    / Jan 4, 2013 at 2:35 PM
  • That would have been a better program.


    ECB Announces Unlimited Bond Buying, Will Fill In Limits Later

    Every time I talk about Europe I begin by saying “Europe is all better,” because Europe these days operates on big-bang fixes followed by long slow decays, repeated indefinitely, so I guess you should sell the news and buy the quiet. Anyway, Europe is all better, since Mario Draghi announced today that the ECB will […]

    / Sep 6, 2012 at 2:33 PM
  • We don't have enough Angela Merkel around these parts.


    A Euroblather Arbitrage

    No human can realistically be expected to understand or focus on the constant stream of Eurozone gyrations and in fact humans increasingly don’t, with the half-life of blather-driven euphoria declining rapidly. The latest gyration seems to be that Germany is contemplating letting the Eurozone collective rescue funds think about maybe one day putting up for […]

    / Jun 20, 2012 at 12:49 PM
  • How do you like us now?

    Getting Into Bed With One Spanish Bank Now A Risk-Free Proposition

    Spain, as you may have heard, does not have a lot going for it at the moment. Its bond yields have crossed 7 percent, unemployment is at something like 70 percent, and on Monday, it announced a rather poorly received bailout of the country’s banks. Investors don’t want to touch their financial institutions with a 100 foot pole. One bank that knew this rejection all too well? Banco Santander, probably on account of the open sores. Today, though, that’s all about to change.

    / Jun 14, 2012 at 12:17 PM
  • News

    Jim Rogers Would’ve Told Spain To Take A Hike

    On Monday, investors breathed a sigh of relief after the EU agreed to lend $125 billion to Spain’s banks. But billionaire investor Jim Rogers wasn’t relieved. He thinks the bailout is misguided – even the worst possible thing that could have happened. “Let them go bankrupt. Let them all go bankrupt!” he exclaimed on CNBC…Not […]

    / Jun 11, 2012 at 1:20 PM
  • News

    And Now, Spanish CDS

    Did you think you could avoid it? So the deal is this. Spain has some banks, and those banks have some loans, and those loans have some problems. And so Spain wants to bail out its banks via a thing called the Frob, which is perhaps more confidence-inspiring in Spanish than it is in English? […]

    / Jun 11, 2012 at 12:03 PM
  • News

    Thank God Someone Came To Work Today

    “Nationalised Spanish lender Bankia is offering a Spiderman towel to young investors as part of a drive to hold onto deposits after being taken over by the state in the biggest bank rescue in Spain’s history.” [Reuters]

    / May 30, 2012 at 3:24 PM
  • News

    Half of Europe Bans Thinking Sad Thoughts About Banks

    Short sale bans. Is there anything they can’t do? Maybe. But does it matter? If your position is just that “speculation” on stocks is the moral equivalent of puppy-murder and should never be profitable, then you just say things like “let’s ban short sales” and don’t worry about the details. You take shorting of bank […]

    / Aug 12, 2011 at 11:39 AM
  • News

    Spaniards Provide Embattled R. Kelly With Lightbulb Moment

    Yesterday we learned the disturbing news that R. Kelly may soon lose his house, on account of not having paid his mortgage since June 2010. Kelly owes JPMorgan $2.9 million, plus unpaid interest accruing at $251 a day on the suburban Chicago spread and while he probably has a few other places in which to […]

    / Jul 14, 2011 at 11:18 AM
  • News

    Nouriel Roubini: Spain “Is A Big Elephant”

    “It is quite likely that Portugal” will be next in line for a financial assistance, Roubini said today in Prague at a conference of chief executive officers sponsored by ING Groep NV. “The big elephant in the room is not Portugal but, of course, it’s Spain. There is not enough official money to bailout Spain […]

    / Nov 29, 2010 at 11:17 AM
  • MBAs, News

    Someone Give This Kid A Job

    Luis Caselles Peréz, pictured, is a Spanish-born business student who recently set up a website in order to share a dream, which he states plainly: “As a Master student, I feel that the environment evolving from this and the resulting new paradigms of the industry offer many learning opportunities. Being in my last year of […]

    / Nov 16, 2010 at 4:03 PM
  • News

    Seven European Banks Get Their Name In Bright Lights

    Anyone can pass the so called stressful test (and 84 banks did) but you know what takes real skill and should be publicly applauded? Failing what’s currently being described as a nice little spa getaway upstate.

    / Jul 23, 2010 at 1:14 PM
  • News

    George Soros Would Like The People Of Germany To Withdraw From The Euro, Let It Crash, And Retire To Spain Where They’ll Live Like King And Queens

    He added that he’s just messing, “of course,” but seriously, think about it. Dare to dream. We can do this. And then together, we will dance.

    / Jun 25, 2010 at 9:00 AM

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