yesterday, news that IKB Industie bank has been bailed out by the government on fears that its losses in the US RE market could spark a banking crisis here. First govt bailout in the fin sector.
earlier this week, WestLB, whose CEO in 2003 replaced the last CEO after that one lost 1.x billion, has just been replaced along with the risk director, after they lost 345 million...the head of the board (same guy) says the replacement is the "best man for the job"...hmm just like they said in 2003.
Worries that DB will be hit hard, too.
getting close...
klh
some notes from Germany
Started by
dasein
, Aug 01 2007 05:24 AM
2 replies to this topic
#2
ogm
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- Traders-Talk User
- 13,780 posts
Member
Posted 01 August 2007 - 06:01 AM
I'll be buying DB today.
Great earnings, volumes on the stock exchange, limited subprime exposure, 5% dividend.
#3
dasein
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- Traders-Talk User
- 7,696 posts
Member
Posted 01 August 2007 - 06:31 AM
I'll be buying DB today.
Great earnings, volumes on the stock exchange, limited subprime exposure, 5% dividend.
as it turned out, DB actually bet short on the subprime secot, it said, as it announced increased earnings this morning AM - CET.
klh
best,
klh
klh
