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AUG 04, 2014 - Business Insider

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10 Things You Need To Know This Morning (DIA, SPY, QQQ)

Good morning! Here's what you need to know. 1.  Banco Espirito Santo Quarantined. Portugal will spend 4.9 billion euros, or $6.6 billion, to break up troubled Banco Espirito Santo into a "good" bank and a "bad" bank, the latter entity holding the firm's non-performing loans. The deal, which deploys leftover funds from Portugal's IMF bailout, protects taxpayers and senior creditors while leaving shareholders and junior bondholders to shoulder most of the damage. Junior debt BES debt is now trading at 20 cents on the dollar. "The rescue, which will destroy much of the value of ... Read More

Tags: 10 Things You Need To Know This Morning (DIA, SPY, QQQ),  Turkey Latest News