Or 2.5 Bear Stearns ...
With a median price of $200K or so ... you have to wonder 120,000 bad loans?
Or 2.5 Bear Stearns ...
With a median price of $200K or so ... you have to wonder 120,000 bad loans?
the next thing you know, anyone can start buying citibank.
remembered, when rbs bidded for abn amro, the closing price was 90bil USD. now that citibank is just worth 120b usd, if only rbs had waited another 6mths!
Freeier : Your world amazes me .... "just worth 120B" ..
The next round of bad news starts this week with Citi reporting Tuesday (EST), then JPMC (Wed ?) and Merrill on Thursday.
This is all monopoly money and is a bit like the mid-80's when the S&L were collapsing like flies in winter !
Citi is expected to lay off 20,000+.
ML just got its butt saved with an investment:
Bloomberg.com: Worldwide
We ain't seen nothing yet.....
Funny how the yanks complained about DP when they tried to buy the US ports but now its ok for the Middle East soverign funds to bail out US banks left/right and centre.
Oh well...should be a fun few weeks with reporting and bonuses.