A small number of credit-default swaps have moved onto clearinghouses, but not swaps on European sovereign debt, even though they are traded relatively frequently and lie at the heart of the Continent's debt maelstrom.
5 U.S. Banks Tally Exposure to Europe's Debt Maelstrom | Five large American banks, including JPMorgan Chase and Goldman Sachs, have more than $80 billion of exposure to Italy, Spain, Portugal, Ireland and Greece, the most economically stressed nations in the euro currency zone, according to a New York Times analysis of the banks' financial disclosures.
The last decade of White's life was a maelstrom of spiraling debt, compulsive buying and troubled health, masked all too well by an exuberant good nature.
O'Neal not only led it into its maelstrom of mispriced mortgage debt, he also led it through the maze of real estate considerations to the conclusion that the right move was to move.
That Greece should find itself at the centre of a financial maelstrom – amid fears of it defaulting on that debt – with unforeseen consequences for the stability of the eurozone, is, for many, even more baffling.
"A Christmas Tale," which follows the fractious Vuillard clan through a maelstrom of seasonal cheer and resentment, owes a debt to Ingmar Bergman's autobiographical magnum opus, "Fanny and Alexander," which opens with one of the most famous Christmas gatherings in movies.
In the end, Denver became ensnared in the financial maelstrom that was stirring even before it restructured its debt and that gathered force as the credit crisis deepened through the summer and fall of 2008.
Crucial to his strategy is investor confidence in Italian bonds: if they lost faith in him and demanded significantly higher returns, Italy could be pitched into a maelstrom of higher borrowing costs and rapidly mounting debts.
Canada had its fiscal house in order before the financial maelstrom hit, and the federal government was able to go deep into debt with its C$63 billion ($57 billion) stimulus plan.
Europe's debt crisis, meanwhile, continued to flare, raising questions about whether some of the Continent's bigger economies, Spain and Italy, might be ensnared in the maelstrom.
American Maelstrom, by Michael A. Cohen (Oxford).
