There are limitations to what we can learn from the past, if the world has changed or the Eurozone is special. The Eurozone is special because individual countries cannot count on the central bank acting as lender of last resort to the sovereign. This makes self-fulfilling crises possible, since high spreads (say because of an expectation of Eurozone breakup) make sovereign defaults more likely.
Author: Edouard Chazal
Lehman Brothers: Four Operating Principles
How Oliver Wyman Manipulated The Spanish Bank Bailout Analysis
That fudge factor is what is known as “excess capital buffer”, whose usage in the model to plug a major capital shortfall gap is non-sensical and shows that the real funding needs of Spain’s banks will be far greater, even absent future deterioration.
Why Hewlett-Packard May Be Beyond Saving
No, the problem runs deeper: HP is not really a company. It is a patchwork of people and products thrown together by a succession of leaders. The company has no clear identity, no unifying purpose — and a demoralized and battered workforce.
Dick Fuld In Exile
For instance, last September, when Clare Baldwin, an enterprising freelance reporter for Reuters, rang the front gate at his property near Sun Valley, Idaho, to get an interview – still the only one he has granted since Lehman’s demise – the first words out of Fuld’s mouth when he saw her were, “You don’t have a gun. That’s good.”
