Matt Levine, Columnist

Bank Worries and Libor Lying

Also batch auctions, smart beta wars, three-way collars, and an Apollo/Apollo LBO.

February 9, 2016 at 1:47 PM UTC

Matt Levine is a Bloomberg Opinion columnist. A former investment banker at Goldman Sachs, he was a mergers and acquisitions lawyer at Wachtell, Lipton, Rosen & Katz; a clerk for the U.S. Court of Appeals for the 3rd Circuit; and an editor of Dealbreaker.

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People are worried about banks.

A measure of the success that global regulators have had in making banking boring is that now even the bank crises are pretty boring. Or whatever is happening right now to European banks. Stocks are down, credit-default swaps are wider, and additional Tier 1 capital securities are a particular focus after (strongly denied) reports that Deutsche Bank might not have enough money to pay interest on its AT1 notes this year. But it's less of a crisis and more of a slow immiseration: