RBS

Just a few hours ago, I posted an article about European toxic asset exposure based on a Telegraph article.  The crux of the Telegraph piece was that European banks have a shed load of bad debt on their books.  A secret European Commission…

Yesterday and today, the heads of British banking institutions face the music in Westminster before a live camera. Yesterday's proceedings were fairly dramatic as I suggested in my post HBOS and RBS get a right bollocking. There has been…

I watched the proceedings of the UK Treasury Committee with HBOS and RBS this morning on Bloomberg UK TV and it was a dismal sight. It had the feel of the Nuremburg trials, honestly. The clip below doesn't do justice to how tense the…

Animal Spirits Depend on Trust - Robert Shiller, Wall Street Journal Geithner enlists lobbyist as top aide - Jeanne Cummings - Politico.com (Hat tip Marshall) Argentina’s B- Rating Affirmed by Standard & Poor’s Ratings - Bloomberg.com…

I am out of commission for most of the day, but here are a few articles that I ran across last night and early this morning. I should be posting more later tonight. Cheers. Ed Bad news: we're back to 1931. Good news: it's not 1933 yet -…

As I write this, stock markets in the U.S. are in their final hour of a rather poor session. Selling seems to have been brought on by Microsoft's announcement that it is cutting jobs en masse for the first time ever. If you recall, Fred…

This post from January 2009 explains why banks do not increase lending capacity when uncertainty about the level of existing loan losses already on their balance sheet makes them worry about future loan losses. Credit wariness will be the…

As the financial industry further unraveled yesterday, Mathieu Robbins of the Irish Indendent asked a worthwhile question: Was RBS the idiot company of all-time in buying ABN Amro at the top of the market? Robbins says no and offers up…

Today's links are dedicated to the banking crisis in the U.S. and Western Europe and to posts from my econblogging brethren. Below are my links for the day divided into three sections. Enjoy.

Let's get right to the heart of things. It's the credit writedowns. They are coming and they are large. First, is Deutsche Bank coming in with a 4.8 billion Euro loss for the quarter. That's massive. The word on the street is that Deutsche…