TeakDoor.com - The Thailand Forum - View Single Post - A note of caution for those with deposits in US Banks

15-02-2008, 04:21 PM

Further update, with article in English:

BBC NEWS | Business | Third aid loan for struggling IKB

Third aid loan for struggling IKB

The German government has agreed a 1.5bn euros ($2.19bn: £1.11bn) rescue package for IKB, the third bailout since the bank hit trouble last summer.

Finance minister Peer Steinbrueck said the move was needed as the consequences of an IKB collapse were "incalculable."
IKB, already given 6bn euros of loan aid, lost billions on investments in assets backed by risky US home loans.

If I had an account with them, I would be heading for the exits! (unless it was overdrawn

)

15-02-2008, 04:21 PM	#31 (permalink)
bkkandrew Guest Posts: n/a	Further update, with article in English: BBC NEWS \| Business \| Third aid loan for struggling IKB Third aid loan for struggling IKB The German government has agreed a 1.5bn euros ($2.19bn: £1.11bn) rescue package for IKB, the third bailout since the bank hit trouble last summer. Finance minister Peer Steinbrueck said the move was needed as the consequences of an IKB collapse were "incalculable." IKB, already given 6bn euros of loan aid, lost billions on investments in assets backed by risky US home loans. If I had an account with them, I would be heading for the exits! (unless it was overdrawn)