Legacy Losses — or Fresh Red Ink? If a sweater was 96.5% navy, do you think it would look navy-colored? And if a chocolate bar was 96.5% dark chocolate, could the manufacturer bill it as dark chocolate? And if the chance of precipitation was 96.5% . . . would you carry an umbrella? What’s with...Read More
No “Run on the Banks?” Define, “Run”It’s true that depositors haven’t raced to withdraw their money from the nation’s — indeed, the world’s — largest, so-called “money-center” banks the last 18 months or so (basically, the ones considered “too-big-to-fail”). That’s largely a credit, literally, to deposit insurance — administered in the U.S. by the FDIC....Read More
