Credit Writedowns » RBS

RBS paying large bonuses while Commerzbank bankers get zero

Edward Harrison — Fri, 26 Feb 2010 13:52:06 +0000

Over the past few days, a number of major European banks have announced earnings results. Two of the most dismal results were registered at the British company Royal Bank of Scotland (RBS) and at Germany’s Commerzbank. However, the similarity ends there because, while Commerzbank investment bankers received no bonus, the bankers at government-controlled RBS received

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
RBS paying large bonuses while Commerzbank bankers get zero originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

No one gets a bonus at Commerzbank and no dividend either 18 Feb 2009
Zero bonuses at Goldman 21 Jan 2010
Commerzbank gobbles up Dresdner 31 Aug 2008

British regulators disclose terms of emergency aid during panic of 2008

Edward Harrison — Tue, 24 Nov 2009 14:28:41 +0000

The Financial Times reports that British regulators have now opened up to reveal more of the details surrounding the emergency aid banks received during the most acute periods of stress to date in the financial crisis. Meanwhile, in the U.S., the Federal Reserve continues to resist providing greater details. The sum some of Britain’s largest

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
British regulators disclose terms of emergency aid during panic of 2008 originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Text of Emergency Economic Stabilization and “Stimulus” Act of 2008 2 Oct 2008
British commercial property prices down 27% in 2008 15 Jan 2009
Panic Time at the Fed 17 Apr 2008

Quelle Surprise! Most Big Banks Lack Capital

Edward Harrison — Tue, 24 Nov 2009 01:49:39 +0000

My post title is an ode to Yves Smith, who likes to feign surprise when the blindingly obvious finally comes into plain view for all to see. The latest sign that underneath the surface weakness remains at large financial institutions comes courtesy of Standard & Poors. According to the Telegraph’s Ambrose Evans-Pritchard, S&P believes many

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Quelle Surprise! Most Big Banks Lack Capital originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Goldman thinks banks need even more capital 18 Jun 2008
European banks have hands out for more capital 18 Mar 2009
Investors finally balk at giving banks more capital 22 Jun 2008

Links: 2009-11-07

Edward Harrison — Sun, 08 Nov 2009 00:06:30 +0000

Warren Buffett And The G20 – The Baseline Scenario On dollars, commodities, China, imbalances and oligarchs A close look at the new antitrust allegations against Intel – Ars Technica Intel paid dell to limit AMD shipments. G20 maintains $1trn stimulus as Brown calls for global bail-out fund Interesting idea from Brown Labored Conditions – Up

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Links: 2009-11-07 originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Links: 2009-02-18 18 Feb 2009
Links: 2009-05-05 5 May 2009
Links: 2009-05-15 15 May 2009

Links: 2009-11-06

Edward Harrison — Fri, 06 Nov 2009 20:05:40 +0000

David Michael Green: Can You Hear Us Now? We still want change. Hat tip Lavrenti. Marc Faber has short term concerns about commodities, says gold may drop to US$800 – Business Intelligence Middle East Is this rally over the top yet? Insolvencies hit record high Up 28% in Britain RBS bank reports losses of £2.2bn

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Links: 2009-11-06 originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Links: 2009-01-14 14 Jan 2009
Links: 2009-01-26 26 Jan 2009
Links: 2009-03-09 9 Mar 2009

Nils Pratley: A tale of two banks at RBS and Lloyds

Edward Harrison — Tue, 03 Nov 2009 20:57:05 +0000

Nils Pratley’s piece at the Guardian on RBS and Lloyds is very good. Two quotes sum up the situation quite well. First,regarding Lloyds, Pratley says: Royal Bank of Scotland‘s shares down almost 20% in two days; Lloyds’s shares an oasis of tranquillity. Those market reactions tell the story of the banking bailout part 3, or

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Nils Pratley: A tale of two banks at RBS and Lloyds originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Lloyds to raise 21 billion pounds in biggest rights issue ever 3 Nov 2009
Lloyds TSB considering bid for Germany’s Dresdner 21 Jun 2008
Lloyds gets HBOS for a song 17 Sep 2008

News from around the web: 2009-11-03

Edward Harrison — Tue, 03 Nov 2009 14:24:21 +0000

I will be on Canada’s BNN TV at noonish talking about finance: Banks and Buffett. It will be a casual discussion with the moderators Howard Green and Andrea Mandel-Campbell and one other guest, Brian Milner of the Globe & Mail. Below are today’s links. Enjoy. Hillary’s Ill Will Tour – Patrick J. Buchanan’s website This

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
News from around the web: 2009-11-03 originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

News from around the web: 2009-07-25 25 Jul 2009
News from around the web: 2009-08-06 6 Aug 2009
News from around the web: 2009-09-06 6 Sep 2009

Lloyds to raise 21 billion pounds in biggest rights issue ever

Edward Harrison — Tue, 03 Nov 2009 12:57:06 +0000

Lloyds are looking to avoid the embrace of government by going to existing shareholders to raise capital and sidestep the draconian break-up solution foisted upon RBS by Neelie Kroes. According to Bloomberg, this is the largest rights issue ever for a British company and equates to $34 billion. All of this must be excruciating for

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Lloyds to raise 21 billion pounds in biggest rights issue ever originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Why is Swedbank doing a second rights issue? 17 Aug 2009
UBS rights issue hits an air pocket 10 Jun 2008
Natixis offers rights issue at 61% discount 4 Sep 2008

The EU driving changes in European banking

Edward Harrison — Mon, 02 Nov 2009 22:24:02 +0000

At the weekend I wrote about Alistair Darling’s about-face on breaking up to big to fail financial institutions. Apparently, this was not a case of labour changing tack and finding regulatory religion, but rather of the European Union imposing its will on the British government. The EU is also dictating policy in Germany, the Netherlands

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
The EU driving changes in European banking originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

European banking collapse including nationalisation of three banks 29 Sep 2008
Crony capitalism in U.S. banking bailout should end 13 Jan 2009
How globalisation led to universal banking in America 13 Jul 2009

Links: 2009-11-02

Edward Harrison — Mon, 02 Nov 2009 12:54:36 +0000

I will be out of pocket in the early morning. Back late morning for more news. I expect to update my thoughts on the UK TBTF situation. Junk bond revival stokes credit bubble fears – Telegraph I share these fears. (My post: http://bit.ly/4oK1wR) Do Saudis have the clout to destroy NYMEX? – Telegraph Still wondering

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Links: 2009-11-02 originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Links: 2009-02-26 26 Feb 2009
Links: 2009-05-15 15 May 2009
Links: 2009-06-24 24 Jun 2009

UK: Darling confirms government to break up too big to fail banks

Edward Harrison — Mon, 02 Nov 2009 04:30:15 +0000

In a clear break with US economic policy, the UK government have decided that too big to fail is too big to exist. As a result, three large financial institutions now owned at least in part by government are to be dismantled. Moreover, talk of Tesco’s or Virgin getting the assets is yet another momentous

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
UK: Darling confirms government to break up too big to fail banks originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Einhorn: Break up too big to fail financial institutions 20 Oct 2009
Zombie banks Scandinavian edition and the threat of too big to fail 31 Aug 2009
Irish government unveils plan to recapitalise banks 15 Dec 2008

Links: 2009-10-27

Edward Harrison — Tue, 27 Oct 2009 16:43:42 +0000

CyanogenMOD Hits Stable 4.2.1 Release, Reduces Home Screen Lag – Lifehacker Very good hack FT Alphaville – South Korea in a won-win situation Ex-Morgan Stanley’s Stephen Jen is bullish Helicopter Crashes Kill 14 Americans in Afghanistan – WSJ.com Buried on page A11 Laptops Cited for Pilot Inattention – WSJ.com Crossword puzzles, magazines and other diversions

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Links: 2009-10-27 originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Links: 2009-01-22 22 Jan 2009
Links: 2009-02-18 18 Feb 2009
Links: 2009-05-05 5 May 2009

PM Brown rejects BoE Head King’s call for breaking up big banks

Edward Harrison — Wed, 21 Oct 2009 16:01:23 +0000

If our response focuses only on the symptoms rather than the underlying causes of the crisis, then we shall bequeath to future generations a serious risk of another crisis even worse than the one we have experienced. -Mervyn King, Governor of the Bank of England The Bank of England head has come out unequivocally against

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
PM Brown rejects BoE Head King’s call for breaking up big banks originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Germans must get their head out of sand on banks 22 Jul 2009
FSA: Gordon Brown complicit in credit bust 12 Mar 2009
Quote of the day: Gordon Brown, get your bazooka 8 Sep 2008

News from around the web: 2009-10-04

Edward Harrison — Sun, 04 Oct 2009 10:41:00 +0000

I am just getting back up to speed, so expect to see a few older links I flagged for myself but did not post in the past few days. Jobless rates rise in all U.S. cities in August | Reuters "Unemployment rates rose in all cities across the United States in August from a year

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
News from around the web: 2009-10-04 originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

News from around the web: 2009-08-06 6 Aug 2009
News from around the web: 2009-09-06 6 Sep 2009
News from around the web: 2009-09-16 16 Sep 2009

News from around the web: 2009-09-25

Edward Harrison — Fri, 25 Sep 2009 04:00:00 +0000

I will be at the Clinton Global Initiative Forum all day today, so I doubt there will be any posts until this afternoon. For Canadian readers, I am doing a TV interview at 12:30PM ET on BNN on Obama’s relationship with Wall Street. Have a great weekend. First on FOX: Morgan Stanley’s Stephen Roach on

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
News from around the web: 2009-09-25 originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

News from around the web: 2009-07-25 25 Jul 2009
News from around the web: 2009-08-06 6 Aug 2009
News from around the web: 2009-09-06 6 Sep 2009

News from around the web: 2009-09-06

Edward Harrison — Sun, 06 Sep 2009 20:27:14 +0000

iPhone makes worldwide loss, says report While Orange and T-Mobile compete with O2 to sell the iPhone in Britain, a report by Denmark’s Strand Consult reveals how it makes a loss for providers and struggles against other phones Investors unhappy as Yahoo boss Bartz earns $2m from share sales The 61-year-old former boss of the

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
News from around the web: 2009-09-06 originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

News from around the web: 2009-07-25 25 Jul 2009
News from around the web: 2009-08-06 6 Aug 2009
News from around the web: 2009-07-20 20 Jul 2009

Weekend Links: 2009-08-30

Edward Harrison — Sun, 30 Aug 2009 10:54:07 +0000

Our quarter-century penance is just starting – Ambrose Evans-Pritchard, Telegraph All that has happened over this crisis is that huge private losses have been dumped on society: but the losses are still there, smothering the economy. Taxes must rise. Debts must slowly be purged. "As long as economic growth relies on the state, you cannot

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Weekend Links: 2009-08-30 originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Weekend reading: 12 Jul 2008 12 Jul 2008
News Round-up: 19 Jul 2008 – weekend edition 19 Jul 2008
News Round-Up: 26 Jul 2008 – weekend edition 26 Jul 2008

News from around the web: 2009-08-06

Edward Harrison — Fri, 07 Aug 2009 01:59:30 +0000

Calculated Risk: Google Maps Shows Foreclosure Status You can get data on just about anything these days. Amazing maps. Almost scary. Fannie Mae seeks $US10.7b in aid after loss Here’s a thought: if Citi were in government hands and taking down writedowns like Fannie, what do you think the scale of losses would be? Confidence

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
News from around the web: 2009-08-06 originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

News from around the web: 2009-07-25 25 Jul 2009
News from around the web: 2009-07-20 20 Jul 2009
News from around the web: 2009-07-27 27 Jul 2009

News from around the web: 2009-07-25

Edward Harrison — Sat, 25 Jul 2009 04:16:00 +0000

Bernanke: 25 mega-firms are systemically vital – MarketWatch That’s a lot more than the biggest banks we hear about Economist’s View: From 1983: Health Care Reform in Canada Echoes of the debate today in the US Eliot Spitzer: "The Federal Reserve Is A Ponzi Scheme" – Dealbreaker Watch this video Steven Gerrard cleared … –

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
News from around the web: 2009-07-25 originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

News from around the web: 2009-07-20 20 Jul 2009
News from around the web: 2009-07-21 21 Jul 2009
News from around the web: 2009-07-23 23 Jul 2009

Links: 2009-07-16

Edward Harrison — Thu, 16 Jul 2009 04:21:00 +0000

Finance and Economics US group calls Fed ‘tarnished,’ demands risk monitor – Reuters Donaldson and Levitt don’t want the Fed as SiRR. Securitization Group Wants Greater Risk Disclosure by Lenders – HousingWire What Wall Street owes you – Janet Tavakoli Interesting take on Goldman’s monster quarter Paulson admits bank merger threat – BBC News Bernanke

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Links: 2009-07-16 originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Links: 2009-06-24 24 Jun 2009
Links: 2009-06-28 28 Jun 2009
Links: 2009-06-30 30 Jun 2009

Links: 2009-07-14

Edward Harrison — Tue, 14 Jul 2009 04:19:00 +0000

Testing the Tesla Roadster Electric Sports Car – WSJ.com A muscle car that’s electric? Yes. BerkShares, Buckaroos, and Bear Dollars: What Makes a Local Currency Tick? – Randy Wray More on California’s IOUs as a currency. Whitney gives Goldman her only ‘Buy’ recommendation But shares are up nearly 200%. Isn’t she late to the party?

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Links: 2009-07-14 originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Links: 2009-01-13 13 Jan 2009
Links: 2009-01-27 27 Jan 2009
Links: 2009-02-15 15 Feb 2009

The RBS and HBOS sinkholes

Edward Harrison — Mon, 13 Jul 2009 14:42:45 +0000

This comes via the Telegraph: UK Financial Investments (UKFI) said in its annual report that its loss on the two stakes – 70pc of RBS and 43pc of Lloyds Banking Group – had reached £10.9bn at the end of June. The losses, which are not yet realised, have been wracked up since Gordon Brown was

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
The RBS and HBOS sinkholes originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

HBOS and RBS get a right bollocking 10 Feb 2009
Lehman fallout: HBOS and RBS are getting slaughtered 15 Sep 2008
Where’s HBOS? 26 Apr 2008

Links: 2009-07-01

Edward Harrison — Wed, 01 Jul 2009 10:25:19 +0000

Financial sector pro-cyclicality: Lessons from the crisis, Part II – vox On the back of the last article, here are some proposals on how to mitigate the pro-cyclical effects of compensation and leverage Financial sector pro-cyclicality: Lessons from the crisis, Part I – vox A look at how leverage and compensation in the financial sector

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Links: 2009-07-01 originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Links: 2009-06-17 17 Jun 2009
Links: 2009-06-24 24 Jun 2009
Links: 2009-06-28 28 Jun 2009

Links: 2009-06-30

Edward Harrison — Tue, 30 Jun 2009 17:35:46 +0000

Moodys pone en perspectiva negativa cdulas hipotecarias de Bancaja y CAM – Finanzas Moodys is downgrading Spanish savings banks. There is still significant weakness in the financial sector in Spain. The Spanish desperately want a housing market bottoming like the one which could be developing in the UK. Output rises 5.9% for third straight monthly

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Links: 2009-06-30 originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Links: 2009-06-24 24 Jun 2009
Links: 2009-06-28 28 Jun 2009
Links: 2009-06-29 29 Jun 2009

Links: 2009-06-28

Edward Harrison — Sun, 28 Jun 2009 12:51:07 +0000

Bank of NY Mellon sees writedowns, 2009 profit: report – Reuters This is what I expect many banks to be saying later this quarter. Is Obama Edging Towards Bush-Like Indefinite Detention? – Michael Scherer, Swampland This is very disappointing. We now have some serious political compromises on finance, civil liberties, health care, and the war

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Links: 2009-06-28 originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Links: 2009-06-25 25 Jun 2009
Links: 2009-06-19 19 Jun 2009
Links: 2009-06-24 24 Jun 2009

Links: 2009-06-24

Edward Harrison — Wed, 24 Jun 2009 13:33:58 +0000

I have bee off for a couple of days but plan on returned to full force later today. Here are the links from the past few days minus tech and blog-related items. If I have a lot more links, I will post them this evening. El Banco de Espana exige que se liquiden los bancos

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Links: 2009-06-24 originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Links: 2009-04-04 4 Apr 2009
Links: 2009-06-16 16 Jun 2009
Links: 2009-06-19 19 Jun 2009

U.K.’s Nationwide releases robust earnings and capital report

Edward Harrison — Wed, 27 May 2009 06:50:29 +0000

On the face of it, Nationwide’s earnings report looks extremely good: 15% Tier 1 Capital, Pre-tax profit of nearly £400 million. Given this financial institution’s leverage to the residential housing market, their results stand in stark contrast to the likes of Chelsea, which was downgraded by Fitch last week with four other U.K. building societies.

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
U.K.’s Nationwide releases robust earnings and capital report originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Nationwide: Press release on Dunfermline acquisition 30 Mar 2009
Nationwide looking to buy targets in UK mortgage market 7 Sep 2008
Nationwide: example of how UK recap scheme matters 13 Oct 2008

Links: 2009-05-15

Edward Harrison — Fri, 15 May 2009 12:34:15 +0000

FT.com / Lex – The eurozone’s terrible recession “This has to be the worst of it. If it is not, then the eurozone’s prospects are grim indeed. The German economy shrank by 4 per cent in the first quarter compared to the last three months of 2008. That is far from the astonishing 11 per

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Links: 2009-05-15 originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Links: 2009-01-22 22 Jan 2009
Links: 2009-02-18 18 Feb 2009
Links: 2009-04-04 4 Apr 2009

Links: 2009-05-08

Edward Harrison — Fri, 08 May 2009 12:22:41 +0000

Did Chrysler Secured Lenders Get a Raw Deal? – Yves Smith This is a VERY good synopsis of some of the issues surrounding the Chrysler bankruptcy. Definitely worth the read. RBS Posts Loss on $7.4 Billion Bad Loans, Writedowns – Bloomberg.com “Royal Bank of Scotland Group Plc, the largest bank owned by the British government,

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Links: 2009-05-08 originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Links: 2009-01-13 13 Jan 2009
Links: 2009-01-22 22 Jan 2009
Links: 2009-02-18 18 Feb 2009

Links: 2009-05-05

Edward Harrison — Tue, 05 May 2009 08:26:46 +0000

FT.com – Spanish banks lead the way in risk management Spain’s banks are beig praised for risk management, much as Canadian banks are. The Cajas are a different story. “Managers believe that this intense board-level focus on risk is one reason why Spain’s large banks have so far weathered the credit crunch in better shape

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Links: 2009-05-05 originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Links: 2009-01-13 13 Jan 2009
Links: 2009-01-22 22 Jan 2009
Links: 2009-02-18 18 Feb 2009

Links: 2009-04-04

Edward Harrison — Sat, 04 Apr 2009 14:40:09 +0000

I have a ton of links today, so I have broken then out into sections. See the news feed for other stories. Finance Inside Obama’s bank CEOs meeting – Eamon Javers – POLITICO.com “My administration,” the president added, “is the only thing between you and the pitchforks.” Lehman Brothers’ Dick Fuld Has a New Gig

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Links: 2009-04-04 originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Links: 2009-01-22 22 Jan 2009
Links: 2009-01-21 21 Jan 2009
Links: 2009-01-31 31 Jan 2009

Links: 2009-03-20

Edward Harrison — Fri, 20 Mar 2009 16:00:42 +0000

Here are the main links. Others can be found in the news feed (also available via RSS). Enjoy. No Return to Normal – James K. Galbraith A Sign of the Times: A.I.G. Sues Countrywide – Deal Book Mexico Treasury Seeks Measure Favoring Citigroup – Deal Book “A statement from the Mexican Treasury Department said it

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Links: 2009-03-20 originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Links: 2009-01-13 13 Jan 2009
Links: 2009-01-22 22 Jan 2009
Links: 2009-02-15 15 Feb 2009

Where are the perp walks?

Edward Harrison — Sat, 14 Mar 2009 17:36:56 +0000

Last summer, as a number of sinister revelations were made about the goings-on in the financial services sector, I speculated that we would definitely see the government going after individual executives for illegal activities. I saw Angelo Mozilo, the man with a tan, as the most likely scapegoat - a mortgage industry Ken Lay, if you will (see my August post "Ex-Countrywide CEO is the new Ken Lay"). Yet, none of this came to pass.

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Where are the perp walks? originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

The perp walks are on 2 Jul 2008

Gillian Tett: Washington is talking to Swedes about banking crisis solutions

Edward Harrison — Thu, 12 Mar 2009 21:00:46 +0000

Gillian Tett has written in the Financial Times that the Obama Administration is no talking to the Swedes directly about their solution to the credit crisis, suggesting a openness to potential banking crisis solutions. Next week, Bo Lundgren, now head of the Swedish debt office, but formerly a Deputy Finance Minister under Carl Bildt, is scheduled to meet with American officials in Washington. For those of us who see positives in the Swedish crisis solution, this is positive news

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Gillian Tett: Washington is talking to Swedes about banking crisis solutions originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

The problem with comprehensive banking crisis solutions 24 Nov 2008
The U.S. banking crisis: where are we? 29 Sep 2008
The Swedish banking crisis response – a model for the future? 13 Aug 2008

Links: 2009-03-09

Edward Harrison — Mon, 09 Mar 2009 15:00:44 +0000

Three more Obama nominees withdraw from running – Telegraph (hat tip Michael) Returned to TARP – FT Alphaville R.B.S. Seeks to Unwind a Decade of Deals – Deal Book – NY Times Geithner, With Few Aides, Faces Challenges – Deal Book – NY Times Blick Log – Ein Weblog über Wirtschaft, Finanzen, Business und mehr

Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
Links: 2009-03-09 originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Links: 2009-01-14 14 Jan 2009
Links: 2009-01-26 26 Jan 2009
Links: 2009-01-27 27 Jan 2009