European governments would bear losses on the loans they have made to Greece in the various bail-outs.
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The alternative, which some regulators prefer, is to create a specific layer of debt that would bear losses if a bank fails, without (it is hoped) triggering a run of all creditors.
What may be needed is a rejigging of banks' balance-sheets to try to contain this panic, with a clearer line between those who bear losses, including shareholders and junior creditors, and those, such as depositors, senior creditors and counterparties, who can be assured of business as usual.
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Why should depositors of an insolvent bank not bear such losses, or large depositors not bear the bulk of them?
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By mid-1976, stocks had sharply rebounded and recovered nearly all of the 1973-75 bear market losses.
The economy minister says preference shares should never have been sold to retail savers but agrees that bank investors must bear some losses.
But what market always comes back, the market that investors were invested in and have been waiting to come back to recover their bear market losses?
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For Lloyds' board, what will be incredibly galling is that there is no scope for it to kill the sale and keep Verde: Lloyds will have to grin and bear whatever losses it eventually faces on a deal that has been ordered by Brussels.
Of course, one of capitalism's bedrock rules is that when a company struggles or fails, its owners -- the shareholders -- bear the heaviest losses.
All counter parties would then avoid Bear Stearns like the plague thinking the losses could be passed to Bear Stearns and the government might take it over next and rescind its contracts.
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The banks, which bear nearly all card losses, are pinning their hopes on new technology.
Banks do bear some of the losses on debt that has been securitized - credit card debt, I should say, that has been securitized.
When things went wrong, they had little incentive to put things right by injecting money of their own because the lender stood to bear most of the losses.
So much of our thinking is about loss, and this is one of the losses we must bear.
Germany suggested that a condition of the island's bailout was that its many offshore depositors should also bear the brunt of the losses.
They cannot bear to risk such capital losses again, so they stay away from equities and over-weight their portfolios with Treasury bonds and other conventional fixed income securities where they naively believe they cannot lose principal.
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Securities issuers can adjust the risk in such bonds by requiring more cash to build up inside the security before it begins paying interest and insurers can reduce their risk by increasing the losses bondholders must bear before the policy kicks in.
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However, as Peter Boone and Simon Johnson of the Peterson Institute in Washington, DC, explain, Germany then signalled that defaults could happen and that investors would have to bear a share of the losses a reasonable demand, but a hard one to introduce in the middle of a crisis.
Not only does it not produce gains over the long-term, but even the most determined buy and hold investors are likely to give up with the worst of timing, near the bottom of one of the frequent cyclical bear markets, after their losses have become more painful than they can handle either financially or emotionally.
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But forcing employees to bear significant exposure to potentially big losses may come at a price.
Since lenders bear the brunt of the higher losses that foreclosure entails, their general reluctance to modify the balance of mortgage loans is puzzling.
Pearl's head office at Peterborough is expected to bear the brunt of the job losses, but the firm said the cuts would be spread across the UK, including offices in London, Tunbridge Wells, Cardiff and Bristol.
That has left depositors and Cypriot taxpayers to bear the brunt of the banks' losses.
Firms with fewer than 500 employees would bear two-thirds of the job losses and more than half of the lost sales, it says.
Just nine months earlier, Cayne was on the bridge circuit when two Bear Stearns hedge funds collapsed from significant losses on subprime mortgage securities, igniting the crisis on Wall Street.
He managed only small losses during the three-year bear, and I lost 74%.
The problem for the banks is that turning off the life support machine on distressed property could cause too many losses for their balance sheets to bear.
Fears of widespread redemptions and deepening losses spooked the mortgage securities markets Wednesday after Bear Stearns told investors in two troubled hedge funds that there was "very little value" left for them.
Finally, the Bank of Japan's decision to raise interest rates has meant that banks will probably have to sell shares to cover losses from borrowers, who may become unable to bear the burden of higher interest payments as well as to meet increased interest bills to depositors.
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