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  • The Bank of England and FDIC unveil the first cross-border plan to deal with too-big-to-fail banks that start...failing. Senior management would be sacked, shareholders would be wiped out, and unsecured bondholders "can expect that their claims would be written down to reflect any losses that shareholders cannot cover," which didn't happen in the financial-crisis bailouts. (PR[View news story]
    Very little fed funds went to banks (some foreign), most went to welfare,unemployment, food stamps, and to states to prevent layoffs to state employees. Also to insurance companies-AIG.
    Dec 10, 2012. 11:57 AM | 1 Like Like |Link to Comment
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