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Austria "Bad Bank" Goes Bad, $8.5 Billion "Bail-In" Underway

MishTalk

The step, allowed by new legislation that gives banking supervisors more power to intervene, followed an outside audit of Heta''s balance sheet that exposed a capital hole of up to 7.6 In an absurd statement, the finance ministry added "Heta was not insolvent". billion euros ($8.51 More than 9.8 Not Insolvent?!

Banking 28
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European Banks Dump Massive Amounts of Subordinated Debt on Investors

MishTalk

The figures follow a deal agreed by European regulators earlier this month that will bring in so-called bail-in rules for senior bondholders from 2016, two years earlier than envisaged by finance ministers in their common position agreed in June. Also consider "stress tests".

Banking 71
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Persistent Overoptimism Three Ways: Truckers, Fed Economists, Manufacturers

MishTalk

As surface transportation’s peak period ends for the year, and trucking eyes the traditionally slowest time for the industry as first quarter 2016, economic signals are, at best, mixed. Recessions triggered by financial crises are typically preceded by sustained episodes of bubbly asset prices and debt-financed spending booms.

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Mish's Global Economic Trend Analysis: FHA Swamped By Defaults.

MishTalk

Get Involved The State of the Unions Finances: A Citizens Guide. Balanced Budget Ammendment Sign the Balanced Budget Petition. The dismal forecast has some bracing for another taxpayer-financed bailout. Dollar Collapse News on the Dollar's Death Spiral. Minyanville Business and Market News. Darrell Issa (R-Calif.)

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Inequality Isn’t Just Due to Market Forces — It’s Caused by Decisions the Boss Makes, Too

Harvard Business

Scholars from a number of fields have offered explanations for this transition, including globalization, technological change, declining unionization, heightened product market competition, and the rise of finance. What if we changed some of those incentives?

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Midsize Cities Are Entrepreneurship’s Real Test

Harvard Business

Through a coordinated, systemic, prolonged intervention with dozens of institutions and thousands of individual participants, new growth of the local companies we trained has directly created over 1033 jobs, fueled by dozens of new private sector financings. strategic hires). day, scale-focused workshops and related activities.

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Shockingly Bad Fiscal Health of Chicago (and the Financial Engineering Chicago Uses to Hide that Fact)

MishTalk

Chicago finances are even worse than I thought which is saying quite a bit because I have written about the sorry state of Chicago finances on numerous occasion. Many of these uses of bond proceeds are not eligible for tax-exempt financing under the federal tax code." Not just financed, but financed with long-term debt.