mandag den 2. november 2009

The revaluation of the banks on life-lines?

...and C gets the RBS-disease( - there is clearly some new valuation of the major banks on life-lines going on! -

It kick-started last weekend with the too big to fail discussion (

Then ING( was forced by the EU commission to downsize balance sheet by 40% and sell their insurance business....

This morning RBS announced that the EU deal will mean divestment beyond their core-strategy - AND - Darling - yes it is a name - will tomorrow announce his plan for "dealing" with new banks, branches, competition - but will end up with 85% of RBS - what a joke. C under pressure tonight:

Fed not helping but for once talking common sense:

Comments from Fed's Greenlee:

U.S. banks face risks from souring loans, particularly for commercial
property, and some banks may face capital adequacy problems, a Federal
Reserve official said on Monday.
  "Credit losses at banking organizations continued to rise (in the
second quarter), and banks face risks of sizeable additional credit
losses given the outlook for production and employment," said Jon
Greenlee, associate director of the Fed's Division of Banking
Supervision and Regulation.
  Greenlee's comments were in testimony prepared for delivery to a
House of Representatives Oversight and Government Reform subcommittee.
  "Poor loan quality, subpar earnings, and uncertainty about future
conditions raise questions about capital adequacy for some
institutions," he said.

Strategy: Still the same - we believe mid-October was top - target: 930/40 minimu in S&P

Safe trading

Steen Jakobsen

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