Lose any hope of escaping a stern haircut on Greek debt holdings

By Juan Pedro Marín Arrese, in Madrid | Those hedge funds resisting debt restructuring shouldn’t nurture any hope to save their money. The titles they hold might be governed by international law. But should Greece turn off the tap, counting on CDS to fill the gap might prove a delusion. Credit default guarantors have already warned they will simply fail to respect commitments entered. The ensuing claims might fatten law…

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US banks join foreign governments against Volcker rule

NEW YORK | It has been one of the main topics at Davos, according to The New York Times: A number of foreign officials complaining to Treasury Secretary Timothy Geithner about the Volcker rule. It hasn’t come from the usual suspects, American banks, but from other governments. European, Japanese and Canadian officials have objected to one aspect of this already polemic new regulation: the fact that it restricts US banks…