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Editor’s Note: The collapse of Spanish megabank Banco Popular happened this month after government and regulators assured investors it had passed a stress test with the European Banking Authority.
Tags » Banco Popular
How much longer can Europe and its banks keep dodging bullets? From Don Quijones at wolfstreet.com:
What would a disorderly bank collapse in Spain and Italy have done? 321 more words
It’s the foundation of bankruptcy for most companies, but the idea that shareholders and subordinated debt holders, creditors of a bank, should actually lose money when the bank is insolvent has been considered violation of a sacrosanct item of faith. 424 more words
Banco Santander just bought Banco Popular for one euro and probably overpaid. From Simon Black at sovereignman.com:
Here’s the perfect example of how insane our financial system has become. 337 more words