Hints and tips:
...By 2015 it had enlisted the highly regarded former Prudential chief Tidjane Thiam as CEO to help shake up the bank, repositioning it from investment banking under his predecessor, Brady Dougan, to its roots...
...the globe’s biggest comedy festivals takes over Melbourne, as comedians from around the world descend on the Victorian capital, including former doctor Adam Kay (This Is Going to Hurt), Scotland’s Fern Brady...
...Vanessa Brady, a director of the management company, says the freeholder supports changing the name....
...No such fate will befall Damon, nor Tom Brady and Gisele Bündchen, who endorsed FTX, the stricken cryptocurrency exchange....
...Letter in response to this article: Here’s how Britain elects a caretaker prime minister / From Joseph Egerton, Canterbury, Kent, UK...
...It doesn’t have the nimble wit of Joseph, nor the sharp resonance of the recent Open Air Theatre revival of Jesus Christ Superstar....
...Joseph Calianno, international technical tax practice leader at BDO, said there was a chance the measure could provoke retaliatory action from other jurisdictions....
...“We are really seeing signs of stress showing up in the plumbing of the financial system,” said John Brady, senior vice-president at RJ O’Brien....
...(It’s difficult to imagine now, exactly because Brady bonds were the prototype of the idea that sovereign debt works best as tradeable bonds.)...
...Brady Dougan, Credit Suisse’s chief executive, warned that job losses would be included. The bank posted a 63 per cent decline in profit on Thursday (Financial Times)....
...This is from a 2012 Hofstra Law Review article by Rodrigo: Peru attempted to create a trust to twice a year make the payment of interest due on the Brady bonds on its behalf in order to keep on servicing...
...There is something intriguing, for example, about the fact that co-financing – a proposal first made but not carried out in the Brady bond work-outs of the 1980s – finally took form in the eurozone crisis...
...The “looper”, or executioner, is a lad like Joseph Gordon-Levitt, quick-triggered and in his case made up weirdly to resemble a young Bruce Willis....
...Credit Suisse’s board will be backing Brady Dougan despite a tough few days for the bank’s chief executive, the WSJ says....
...However, in the case of a country defaulting when it has issued Brady bonds, the liability was already preissued when the Brady bond was initiated....
...Joseph’s post highlighted the part about the eurozone. In other non-news, Joseph informs other media sources that the ESM/EFSF can already buy government debt....
...No Brady bond was ever guaranteed by the US government. Sovereign debtors had already paid for the bonds....
...It’s a classic resurrection of the Brady bond solution to the Latin American debt crises of the 1980s — which is why it’s just not enough....
...They have nothing to do with new plans to lever the EFSF/have it insure sovereign bonds/sell sovereign CDS/issue Brady bonds/give every bondholder a pony, Groupon coupons and/or book tokens....
...The Brady bond restructuring of South American sovereign debts in the 1980s was at least patient on banks building up provisions, and also benefited from not happening in a global recession....
...- Corporate: JJB Sports, Greene King, Gulf Keystone, Circle Oil, Superglass, Brady, DNO International....
...Not just the experience of Brady bonds in the 1980s (which were finely tweaked to banks’ accounting needs) but the broader drift towards making the EFSF into a big bucket of quality collateral....
...(And of course similar to just about every Brady bond restructuring ever.) You’ve no doubt also seen that the Greek bond offer results in a net present value cut of 21 per cent....
...It’s really another argument for Brady-ising Greek restructuring, using credit enhancements and collateral on the bonds that replace older maturities....
...It’s a bit like Ecuador’s 1999 debt restructuring, the first to restructure Brady bonds. _____________ The IIF Time then to say a quick word on the IIF’s role in this complicated tale....
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