Wednesday, June 11, 2008

Write-offs could be as much as $2 trillion according to NIM estimates

Geffen warns banks will need second round of rights issues

Neptune Investment Management founder Robin Geffen has warned that British banks will be forced into a second round of rights issues before the credit crunch is over. Speaking at yesterday's Citywire Cabinet event, Citywire AA-rated Robin Geffen told delegates that senior bankers should not be in their jobs once the full extent of their mistakes becomes apparent.

Posted by jack c @ 06:36 PM (523 views)
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2 thoughts on “Write-offs could be as much as $2 trillion according to NIM estimates

  • dohousescrashinthewoods says:

    Strikes me that the “age of bankers” is drawing to a close.

    We’ve had the nobility, the industrialists, the dot-commers and now the bankers.

    Farmers are the new investment bankers. They may be worth little now, but Bill gates Started in his garage..

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  • This is where black hole theory takes over from economics.

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