LONDON (MarketWatch) -- Shares in Societe Generale sank as much as 6% Wednesday after the French bank warned that it would take another 1.4 billion euros ($2.02 billion) of charges on risky mortgage assets, virtually wiping out its profit for the fourth quarter.
In a brief trading update, the bank said it had again marked down the value of its mortgage holdings to reflect rising loss rates on both prime and subprime loans.
http://www.elitetrader.com/vb/newthread.php?s=&action=newthread&forumid=51
Oh yes, US banks are living in a dream world. Dream, dream, dream...
In a brief trading update, the bank said it had again marked down the value of its mortgage holdings to reflect rising loss rates on both prime and subprime loans.
http://www.elitetrader.com/vb/newthread.php?s=&action=newthread&forumid=51
Oh yes, US banks are living in a dream world. Dream, dream, dream...
