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No. 6: If you don’t give it to me you’ll only lend it to someone else and look where that got us
Bank deleveraging has barely started

Bank deleveraging has barely started

Banks lending money to governments to help fund bank bailouts looks horribly circular

League Tables - 122



US ECM - End of H1 2008


Bookrunner Value $m Deals % Share
1 Citi 28,001 57 19.3
2 Lehman Brothers 19,023 39 13.1
3 JPMorgan 18,202 54 12.6
4 Banc of America 16,132 36 11.1
5 Goldman Sachs 15,637 37 10.8
6 Merrill Lynch 9,233 44 6.4
7 Morgan Stanley 8,189 48 5.6
8 Wachovia 7,924 22 5.5
9 UBS 7,405 46 5.1
10 Deutsche Bank 4,062 26 2.8
Total 145,077 273 100.0
Source: Dealogic


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