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’Don’t forget to worry about the German banks
In the very early days of the crisis – circa August 2007 – Germany’s Landesbanken were daily in the headlines in the financial press. But as the meltdown of the global financial world continued apace, attention shifted from the subprime IKB,
More trouble ahead for German Landesbanken
Germany’s banks are in a mess. Two of the smaller Landesbanks, SachsenLB and IKB, were the first casualties of the credit crunch – imploding as they did way back in August.
Focus shifted when things started to go awry elsewhere in the world.
The critical state of German banks
Axel Weber, president of Germany’s Bundesbank, may rue his words of eight days ago when he referred to the bail-out of IKB as an “isolated, institution-specific incident”, Ivar Simensen and Ralph Atkins note in an FT analysis of German’s state-controlled banks.
WestLB chief intensifies German disquiet
The uncertainty gripping Germany’s banks intensified Tuesday after the chief executive of one of its leading lenders issued an unusually frank warning about the troubled state of the country’s banking industry.
Tett: Monolines and broken credit compasses
This summer’s nasty new guessing game is “spotting where the subprime bodies lie”, writes the FT’s capital markets editor Gillian Tett, in Monday’s FT. For even as the financial world reels from the credit storm,
…As Germany’s Sachsen struggles with credit crisis
Investors in the European financial sector are scrambling to establish how much banks have pledged in credit lines to so-called “conduits” after Sachsen LB became the second German bank to be rescued amid credit market turmoil.