Wednesday, September 16, 2009

Fantastic Essay about Insolvent Banks

"The main opponents to debt for equity conversions are, of course, bank shareholders who don't want to be diluted, and bank bondholders who would prefer to be bailed out by colossal government subsidies. These shareholders and bondholders threaten Armageddon if they are asked to shoulder the losses on the risks they have voluntarily taken." (PDF)

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