Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
... Roskilde Bank is actually the second small Danish bank to go belly-up over a combination of investments in foreign subprime bonds and domestic subprime-lite borrowing.

The first was Bank Trelleborg, and that's a tale in itself: The shareholders are currently suing the Board and CEO for predatory salesmanship, illegal price manipulations, insider trading a probably a couple of other things, because the bank had a specific and heavily-enforced policy that their investment advisers had to recommend the customers to purchase the bank's own stock and paint rather rosy pictures of the viability of said stock.

By the end it was, of course, obvious to the management by then that the ship was going to sink, but the policy was never rescinded...

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Sat Jul 12th, 2008 at 12:50:01 PM EST

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