Several of these banks (minus banks like Credit Agricole) are under severe losses due to the credit crisis the truth about which has still not completely unfolded. On paper - these banks may be the largest but in reality - several of these don't really qualify if you actually take a look at their assets. UBS, Deutsche and Barclays are facing their worst ever nightmares post the sub-prime fiasco. All this is therefore not "absolute" but "obsolete" truth.
RE:Obsolete Truth
by Ankur Sheth on May 28, 2008 04:24 PM Permalink
thats very true ! infact the biggest banks themselves have been affected by the subprime crisis the most and theres more to come ! now theres consumer crisis ! god save us all !!!
Re: Obsolete Truth
by ananth on Sep 16, 2008 05:15 PM Permalink
In West the financial sector is passing through some of the worst times. most of the stock markets are crashing.Latest being Lehman Bros.
