Comments(0) WestLB AG, the German bank posted a $2.5 billion loss attributed to the current “capital market crisis. According to Bloomberg, the bank swung to a loss amid the U.S. subprime meltdown and an investigation into its trading practices.
Comments(0) Germany’s biggest bank will take a $3.9 billion write down related to (surprise, surprise) asset backed securities and loans. According to a statement from the bank“Conditions have become significantly more challenging during the last few weeks.” Perhaps that is an understatement from the bank. Of course the Deutsche Bank mark down is downright paltry compared to the $19 billion hit that UBS announced today. Anyone keeping a tally? I have lost track of the total losses related to the mortgage meltdown.
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