According to media reports, Deutsche Bank (NYSE:DB) will take a $3.3 billion charge on leveraged loans and other credit products.
Douglas A. McIntyre is a partner at 24/7 Wall St.
According to media reports, Deutsche Bank (NYSE:DB) will take a $3.3 billion charge on leveraged loans and other credit products.
Douglas A. McIntyre is a partner at 24/7 Wall St.
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Reader Comments (Page 1 of 1)
10-03-2007 @ 6:01AM
CrossProfit said...
Douglas,
There seems to be a trend as to how the subprime fallout is being divvied up between the financial institutions. Both U.S. and overseas entities are taking hits in the 3 to 4 billion dollar range. UBS and others, when you tally up the third quarter projected losses verses the pre-write-down projected profits, are all falling within the same range.
Is this a coincidence? Statistically it can't be that they all had the same exposure and when you add the fact that Credit Suisse (CS) actually went out and bought some more subprime exposure in the first and second quarter, one begins to wonder what is going on behind closed doors.
Disclosure: This is the personal observation of a Cross Profit analyst and may not represent the opinion of CrossProfit.