Groundhog day: Geithner botches another bailout
Should taxpayers own the good banks?
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| Jan Hommen: positive impact |
When the Dutch bank first secured a €10 billion capital injection from the Dutch government in October 2008, it was already exploring ways to ring-fence its exposure to further potential losses on this portfolio but hadn’t developed the right methodology for this. Then came the awful results of the fourth quarter of 2008, bringing further impairments on a portfolio of illiquid securities held for sale that the bank had to mark to a distressed price in a thin market.
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