Spain Utters The B-Word, Ruins The Party.... Update - False Alarm: The Taxpayer Rape Will Continue
Update: we have entered full retard rumor territory again:
- GUINDOS SAYS NO PLAN TO APPLY LOSSES ON JUNIOR BANK BONDHOLDERS
In other words, no B-word; to summarize - Spain float rumors, does not like market response, denies rumor. Taxpayer rape must continue.
Spain just uttered the "B" word and ruined the party:
- SPAIN SAID TO WEIGH IMPOSING LOSSES ON JUNIOR BANK BONDHOLDERS
What is the B-word you ask? Why Burdensharing of course. And we can see why it would be confusing - it never happened once in the past 3 years of central bank coordinated bailouts.
Naturally this means equities wiped out. It also means the free lunch for the banking kleptocrat cartel is now over.
And some other headlines:
- GUINDOS SAYS TO SEND LETTER SEEKING BANK RESCUE ON MONDAY
- GUINDOS SAYS BANKING UNION INCLUDES SUPERVISION, DEPOSIT FUNDS
- GUINDOS SAYS MOU ON BANK RESCUE MORE IMPORTANT STEP THAN LETTER