Remember during the Great Recession, when various governments had to come in and prop up their respective “too-big-to-fail” banking institutions like every other day? Well, it’s beginning to feel a bit like 2009 again. Portugal just spent $6.6 billion to save Banco Espirito. Could there be more bailouts on the horizon? Here’s Mark Thompson at CNN Money reporting on the weekend rescue.
The New York Times’ Deal Book (Chad Bray): HSBC (HBC) isn’t doing too well either. Profits hit the skids.
Bloomberg View (Mac Margolis): Brazil — in particular, the country’s president — doesn’t care much for Banco Santander.
Zero Hedge (Tyler Durden): You should probably just avoid foreign banks at this point. Bank of America gives a big warning.
Barron’s (Brendan Conway): Don’t blindly rush into bank-loan ETFs and high yield. You might realize exactly what you what you have.
Sober Look (Staff): Oh Yeah, Argentina also defaulted on its bank debt. Here’s the breakdown.
The Epicurean Dealmaker (Staff): On bank JPMorgan Chase (JPM) and its recent negotiating skills in Silicon Valley.
Wall Street Journal (Ben Edwards & Tommy Stubbington): What happens if indexers boot Russian banks from their indices? It could very well happen.
A Wealth Of Common Sense (Ben Carlson): Diversification still works. Good advice for troubled times.
Smithsonian.com (Rachel Nuwer): Watch out Facebook (FB), prairie dogs have the ultimate social network.
