Category Archives: Defaults

Greece, Lehman, and the politics of Too Big To Fail

The looming second banking crisis raises the question whether banks have learned anything from the Lehman debacle only three years ago. They have indeed learned a lesson, but you may not like it. So we face another Lehman moment. The … Continue reading

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Generation in Debt – the University in Default & the Undoing of Campus Life

Last August, student loans surpassed credit cards as the nation’s single largest source of debt, edging ever closer to $1 trillion. For all the moralizing about American consumer debt by both parties, no one dares call higher education a bad … Continue reading

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This Time Is Different: Eight Centuries of Financial Folly

Throughout history, rich and poor countries alike have been lending, borrowing, crashing–and recovering–their way through an extraordinary range of financial crises. Each time, the experts have chimed, “this time is different“–claiming that the old rules of valuation no longer apply … Continue reading

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Leer En una muestra de 66 países de los cinco continentes, que representan el 90 por ciento del PBI mundial, se relevó que en el período 1800-1945 se registraron 127 episodios de default, con una duración promedio de 6 años. … Continue reading

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