Tuesday, February 10, 2009

€10 Billion Loss "Seemed Like a Good Idea at The Time"

The above shocking comments were from Sir Fred Goodwin (Ex-Numero uno at RBS) and he was referring to the misguided purchase of ABN Amro, whose toxic debts made it virtually worthless.

America will be the place to watch today, as the latest TARP announcement is being made, watch for a strong market reaction, particularly in the banking sector - which way will it go?

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