What is so big, according to Dr. Ackermann? Equity of Deutsche Bank?
Big Swinging Dicks ... This is related to the post yesterday.
Picture courtesy of Bild.de"BarcLehs" is not my favorite too, but "Big Swinging Dicks" may learn a lot from Barclays' CEO John Varley: " ... it was right for banks to apologise for the role they played in causing the credit crunch."
Societe Generale writes this morning re UK, US and German banks:
What has become clear, particularly in the UK, US and Germany, is that the actions taken to date have not been enough to stabilise the respective banking sectors. Bailout plans continue to evolve and we believe that the UK government will likely need to present a more comprehensive plan sooner rather than later over the coming months. The UK operating environment continues to deteriorate rapidly and banks are being pressured to prop up the wider economy while suffering larger-than-expected losses on asset exposures which are driving down profits and depleting capital bases. ... Furthermore, in our view, one of the key outstanding flaws of the original bailout plan was that it did not address asset quality on UK bank balance sheets and we would expect this to be a key feature of any holistic future response to the banking crisis.*"Nasing Spesal" is a "famous" quote by Latvian Minister of Finance regarding the economy of Latvia ...
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