Jean Paul Votron, Sir Fred Goodwin.
After seeing its share hit a historic low last sunday, the belgo-dutch company faced bancruptcy. Yet another Giant financial institution was about to fall.
First consequence was the highly mediatise departure of its director Maurice lippens.
The company was then facing a bailout, before the dutch, belgian and luxemburgish decided to operate a nationalisation of the firm, by investing into it.
The share is now stabalised at 5.35 euros, but the company is not saved yet, and it already caused large accident, in the belgian economy
2 comments:
American Bankruptcy Institute' means that once the company goes into bankruptcy, this is going to be an opportunity to have a look under the hood, and it might be not a nice sight. Fortis situation reminds Lehman Brothers case, when Nomura, Japan’s biggest securities firm, wanted to take over the information technology development and back-office operations of the bank with more than 2,000 employees in India. The bankruptcy of the Bank is the largest casualty of the global credit crisis since late 20s. However today it is also an opportunity for some to profit, big time..... However the question is, who would be the winner,and who would be the looser after the collapse of such banks as Fortis and Lehman....
Dimitry
I appreciate you took the time to comment, and have to say, i don t know who it could be beneficiary to, to see major banking institution fail.
The only "winner" would be the state.
The people or organisation that have monney or capital within the crisis, are the one that are more likely to increase their assets in those time.
the looser are more easy to define, they would be all the private, and companies, that had monney based in those banks, or the fact that credit loans are becomming impossible to get.
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