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Mish Fined 8,000 Euros for Quoting French Blog

MishTalk

On September 2, 2011, the Wall Street Journal chimed in with A French Banking Primer. trillion balance sheet is leveraged nearly 49-to-1. As a group, these three banks have some €4 trillion in assets on their balance sheets, supported by €129.3 French Banking Primer. of its assets—which means its €1.6

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Laughable Eurozone Banking "Non-Union"; Expect Disorderly Breakup

MishTalk

Germany Backtracks on Banking Union MarketWatch reports Germany appears to backtrack on EU banking deal EU finance ministers have promised to agree on a so-called single-resolution mechanism--consisting of more centralized decision-making and financing for the shuttering or downsizing of failing banks--before the end of the year.

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Syriza Trounces New Democracy; Greeks Stop Paying Taxes; Run on Greek Banks Escalates; Get Out!

MishTalk

The Wall Street Journal reports Greece’s Radical Leftist Syriza Party Poised to Win Election, Exit Polls Say. Here''s an interesting quote from the Journal. A finance ministry official confirmed on Friday that state revenues had collapsed this month. Syriza appeared set to win between 35.5%

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The Data Says Climate Change Could Cost Investors Trillions

Harvard Business

An important new study , published in the journal Nature Climate Change, says that climate change will be expensive. These so-called “stranded assets,” sitting on petro-company balance sheets, are essentially worthless. Extremely expensive. Forget the polar bears; your pension and retirement funds are in trouble.

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