Welcome to the Vitus Capital Blog!
Notes to myself, possibly of interest to others.
-- Bill Northlich

Tuesday, September 13, 2011

EU Soundbites

SocGen CEO is on Bloomberg TV this morning after his appearance on CNBC yesterday defending the banks balance sheet positioning and liquidity after the 20% 2 day stock drop Friday and Monday. 

The stock is up 5% today but BNP [France's biggest bank] is at the lowest since March ’09 after the WSJ got this quote from an exec there spoken last week, “We can no longer borrow $’s. US money market funds are not lending to us anymore…Since we don’t have access to $’s anymore, we’re creating a market in euros. This is a first…We hope it will work, otherwise the downward spiral will be hell.”
---Peter Boockvar

No comments:

Post a Comment