Seeking Alpha
  • David White
    A lot of the big EU banks had multi-$B losses in Q4. Already slated for multi-$B losses in Q1 before this default.Q1 could be ugly.
    3/9/12
    Reply (8)
    • humahuaca: All of the big euro banks are effectively bankrupt, everyone knows that. That's why they were given 600 B euros so as not to have to raise
      3/9/12
    • humahuaca: any capital for the next 1 to 3 years. If they don't have to panic sell anything they don't have to mark to market (I believe). Can kicked.
      3/9/12
    • humahuaca: I think most people look at the euro banks as being 1 small step from being nationalized anyway.
      3/9/12
    • humahuaca: DaLatin: all those people who were screaming about the ISDA being fraudulent should be barred from jury duty, imo. They would have the
      3/9/12
    • humahuaca: verdict before the crime was even committed.
      3/9/12
    • humahuaca: you misunderstand me. I'm saying their was no default/restructuring until today, so obviously they couldn't rule on it. If you read any of
      3/9/12
    • humahuaca: their press releases they made it clear they would only rule AFTER the event took place, which only makes sense. They also hinted pretty
      3/9/12
    • humahuaca: clearly that CACs would mean a credit event. But no one read what they actually said. they just listened to the fearmongers.
      3/9/12