Three Financial Groups In Trouble
Raymond Teo (July 13th, 2008) Writes:
Three Financial Groups In Trouble
The impact of the credit crunch saw two banks and a financial and industrial group fail on Friday in three different countries in the most damaging day so far since the crisis started last August.US banking regulators on Friday swooped in to take over mortgage lender IndyMac Bancorp Inc, the second-largest bank failure in US history and the fifth bank to close this year.
In Denmark the country’s central bank bailed out the Roskilde Bank after it had encountered severe liquidity strains following asset write-downs.
And in London, media reports said the $A4 billion Dawnay Day financial and industrial group had become a victim of the credit crunch after talks over the weekend agreed to the appointment of administrators to some of its companies and businesses later today, and a string of asset sales.
The three separate problems show that the credit crunch hasn’t gone away: ...
In Denmark the country’s central bank bailed out the Roskilde Bank after it had encountered severe liquidity strains following asset write-downs.
And in London, media reports said the $A4 billion Dawnay Day financial and industrial group had become a victim of the credit crunch after talks over the weekend agreed to the appointment of administrators to some of its companies and businesses later today, and a string of asset sales.
The three separate problems show that the credit crunch hasn’t gone away: ...
Tags for this Post:
Asset Sales, Bancorp Inc, Bank Failure, Banking Sector, Collateralised Debt Obligations, Credit Crunch, Current Market News, Fannie Mae, Fannie Mae And Freddie Mac, Financial, Financial Groups, Freddie Mac, Future Health, Industrial Group, Indymac Bancorp, Indymac Bancorp Inc, London Media, Mortgage Lender, National Australia Bank, Optimists, Roskilde Bank, S Central
Asset Sales, Bancorp Inc, Bank Failure, Banking Sector, Collateralised Debt Obligations, Credit Crunch, Current Market News, Fannie Mae, Fannie Mae And Freddie Mac, Financial, Financial Groups, Freddie Mac, Future Health, Industrial Group, Indymac Bancorp, Indymac Bancorp Inc, London Media, Mortgage Lender, National Australia Bank, Optimists, Roskilde Bank, S Central


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