Friday, Dec 21, 2007
The French Connection
RTT News: Credit Agricole Takes Further 1.6 Bln Euros Writedown
French bank Credit Agricole announced that it would take an additional write down to the magnitude of 1.6 billion euros. The company joins the list of financial firms that has come public about their bruises from their exposure to the tarnished subprime mortgage market.
Posted by alan @ 02:57 PM (282 views) Add Comment
1 Comment
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1. renting2 said...
Has anyone totted up all these subprime write-downs? The US sub prime mortgage market must be the largest single market in the world.
Are the banks using this as an excuse to clear a lot of stuff they don't want us to know about off the books? Governments do this sort of thing with bad news.