banks

In Europe, there has been a lot of talk about Germany's second largest bank, Dresdner Bank, which is looking to get sold by its parent Allianz. Allianz, which also owns U.S. bond giant PIMCO, has had only trouble with Dresdner since it…

Given the number of foreign articles I have translated recently, I thought it would be useful to start a foreign press alert which pulls together common themes in order to present a holistic view. Today, I will post on Argentina, Spain,…

When it comes to residential property in the US, banks were overzealous on the way up and now they are overzealous on the way down. You have probably heard that banks are cutting HELOCs (home equity lines of credit) like mad. Borrowers,…

At the end of last week, the warning came. The Chinese officially warned Hank Paulson et al. that they better get their act together on Fannie and Freddie. The Chinese own a ton of GSE paper and they would be hopping mad to see their…

PIMCO, the brainchild of Bill Gross and now owned by the German insurance giant Allianz, is concerned enough about the bankruptcy of Roskilde Bank in Denmark to have sent the following e-mail out to its clients. I have put important parts…

The past few weeks I have been chronicling how Europe is fast catching up to the United States in terms of the magnitude of the housing bust and its effects on its economies. I'd like to turn back to the United States and Northern…

Over the weekend the Danish Central Bank took over bankrupt Roskilde Bank, wiping out shareholders. Tiny Denmark has had a bankruptcy on its hands that is following the script of Northern Rock in the UK to a tee: After lending too much…

The bankrupt Danish Bank Roskilde received no bidders as the Central Bank of Denmark looked to unload the bank as quickly as possible. Roskilde got into trouble after the Danish economy turned down and loans it had made to home builders…

Yesterday and overnight, there was a ton of news in Europe, in banking and in geopolitics. So, I am going to alter the format of the round-up slightly and give you a rundown with links mixed in.The long and short is that the banking sector…

Below are the latest writedown stories from the web that I have seen. For the full timeline of news, visit my credit crisis timeline. Bloomberg recently updated their tally of writedowns to arrive at $503.8 Billion to date. That is on…