banks

This news of German goverment capital infusions at Commerzbank comes from the Frankfurter Allgemeine Zeitung in Germany. You will recall that Commerzbank was the winner in the bid to buy Dresdner Bank just a few months ago. However, this…

Given the fact that this site is called Credit Writedowns, you would expect me to take a fairly skeptical view about the growing consensus regarding a rapid recovery in 2009. I do, in large part because I understand that banks face many…

This is the time of year when everyone tends to look back and sum up the year in one way or another. I have been doing much of the same. In keeping with that theme, I have taken a good look through my nearly 1400 posts to get a better…

It wasn't until I read about a massive writedown by a German bank associated with the bankruptcy of Lehman Brothers that I started to connect the dots. But, there is a hidden flaw in our accounting system which accounts for some of the…

Morgan Stanley released a dismal earnings report one day after Goldman's. Obviously this is shaping up to a be a very bad quarter for financial institutions. Morgan's $2.2 billion loss was certainly less than Goldman's but very large…

Goldman has done exceptionally well compard to other investment banks through this credit crisis. However, many were predicting a stunning turn of fortune for the latest reporting period. And stunning it was as Goldman lost a mammoth $2.1…

Today the Irish government has unveiled a 10 billion euro plan to recapitalise its outsized banking sector. I have posted a number of times about the depth of woes in Ireland including the high debt-to-gdp level, the crashing property…

Another Friday night in America means another bank goes bust. This week, it's two banks: Haven Trust of Georgia nd Sanderson State of Texas. BB&T is stepping in for the deposits at Haven Trust. And Pecos is taking the deposits at…

It's been a month since I updated my list of writedowns and other credit crisis-related news, so I am sure that this list is filled with holes and missing information. Here it goes nonetheless. Below are the writedowns from the previous…