I keep hearing that Vince Cable, Shadow Chancellor Deputy Leader of the UK's third largest political party, the Liberal Democrats, predicted this crisis but could find little evidence of such. However, according to Hansard, he asked then Chancellor Gordon Brown the following question on 13th November 2003: "On the housing market, is not the brutal…
Lots more bad news today, after Friday's rotten Q4 banking results in the USA. Royal Bank of Scotland, as expected, is saying it made a £28 billion ($42 billion) loss for 2008. The loss comprises a trading loss of £7-£8 billion ($10-$12 billion) plus a write-off on ABN AMRO of £20 billion ($30 billion). That…
Lots more bad news today, after Friday's rotten Q4 banking results in the USA. Royal Bank of Scotland, as expected, is saying it made a £28 billion ($42 billion) loss for 2008. The loss comprises a trading loss of £7-£8 billion ($10-$12 billion) plus a write-off on ABN AMRO of £20 billion ($30 billion). That…
Lots more bad news today, after Friday's rotten Q4 banking results in the USA. Royal Bank of Scotland, as expected, is saying it made a £28 billion ($42 billion) loss for 2008. The loss comprises a trading loss of £7-£8 billion ($10-$12 billion) plus a write-off on ABN AMRO of £20 billion ($30 billion). That…
Lots more bad news today, after Friday's rotten Q4 banking results in the USA. Royal Bank of Scotland, as expected, is saying it made a £28 billion ($42 billion) loss for 2008. The loss comprises a trading loss of £7-£8 billion ($10-$12 billion) plus a write-off on ABN AMRO of £20 billion ($30 billion). That…
Lots more bad news today, after Friday's rotten Q4 banking results in the USA. Royal Bank of Scotland, as expected, is saying it made a £28 billion ($42 billion) loss for 2008. The loss comprises a trading loss of £7-£8 billion ($10-$12 billion) plus a write-off on ABN AMRO of £20 billion ($30 billion). That…
Results season this week for Q4 earnings: JPMorgan – a $702 million Q4 net income compared to $3 billion a year ago;Citigroup – $8.29 billion losses and breaking into two banks;Bank of America – $1.79 billion loss, and $138 billion bailout thanks to Merrill making a $15.3 billion loss;Deutsche Bank – $6.4 billion loss;Anglo Irish…
Results season this week for Q4 earnings: JPMorgan – a $702 million Q4 net income compared to $3 billion a year ago;Citigroup – $8.29 billion losses and breaking into two banks;Bank of America – $1.79 billion loss, and $138 billion bailout thanks to Merrill making a $15.3 billion loss;Deutsche Bank – $6.4 billion loss;Anglo Irish…
Results season this week for Q4 earnings: JPMorgan – a $702 million Q4 net income compared to $3 billion a year ago;Citigroup – $8.29 billion losses and breaking into two banks;Bank of America – $1.79 billion loss, and $138 billion bailout thanks to Merrill making a $15.3 billion loss;Deutsche Bank – $6.4 billion loss;Anglo Irish…
