"Josef Ackermann, CEO of Deutsche Bank admitted the obvious today with
statements recognizing that many organizations will fail at mark-to-market
pricing. To show you the Fantasyland world these bankers live in, Ackermann also
believes European banks are now much better capitalized and less dependent on
short-term financing.
Courtesy of Google Translate please consider Many banks will not survive if forced to value sovereign debt at market prices
Courtesy of Google Translate please consider Many banks will not survive if forced to value sovereign debt at market prices
The chairman of Deutsche Bank, Josef Ackermann, today highlighted another obstacle to resolving the debt crisis that crosses the euro zone.at http://globaleconomicanalysis.blogspot.com/2011/09/deutsche-bank-ceo-says-its-obvious-many.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+MishsGlobalEconomicTrendAnalysis+%28Mish%27s+Global+Economic+Trend+Analysis%29
"It is obvious that many organizations will not survive in the event of having to reassess their portfolios of sovereign debt at market prices," Ackerman said in his speech at a banking conference held in Frankfurt..."
