Ode To Capitalism

WSJ Markets

• Jefferson County Debt Plan Is Costly
  The plan by Jefferson County, Ala., to emerge from bankruptcy protection hinges in part on the sale of $1.9 billion of new debt this fall to refinance debt tied to its troubled sewer system. But some observers are calling terms of the new debt onerous.
• Thai Rice Aid Criticized
  Thailand's government took a step toward revealing the full cost of its contentious rice-price support program, saying it had lost $4.4 billion on the subsidy from fall 2011 to September 2012.
• KPMG Ex-Partner Is Arraigned
  Former KPMG LLP senior partner Scott London was arraigned here Monday in federal court, where a not-guilty plea was entered on his behalf, although he is expected to plead guilty once certain procedural matters are resolved.
• Co-op Bank Plans a Novel 'Bail-In'
  Co-operative Bank said it would ask subordinated bondholders to take heavy losses in an effort to raise £1.5 billion ($2.36 billion) in fresh capital and stave off a potential collapse.