Germany’s Hypo Real Estate implodes …
German Dax Index member Hypo Real Estate announced that the 35bln Euro “survival-package” has been withdrawn by a consortium of banks.
The need for capital is said to be 50bln Euro for 2008 and up to more than 100bln Euros for 2009.
Black Monday anybody?
Tags: Hypo Real Estate
Oktober 5th, 2008 at 01:17
I found your blog on MSN Search. Nice writing. I will check back to read more.
Eric Hundin
Oktober 5th, 2008 at 17:20
HRE offers vacancies in the following fields:
(”Career Center at HRE.com”, 29.09. / 05.10.)
* Project Leader “Meldewesen/Liquidity Rules” (!!!!!)
* Specialist “Meldewesen/Liquidity Rules” (!!!!!)
* Group Revenue Controller (!!!!!)
* Product Controller
* 2 Specialists Accounting
* Specialist Credit Risk
* Financial Engineer (Credit Products)
* Specialist Market Risk Control (!!!!!)
=> This bank looks for additional staff in essential areas of banking.
=> Executives must have known about weaknesses in those fields which are now extremely relevant for HRE`s insolvency …
OR
=> Did regulators know about hidden weaknesses and forced HRE to add on their knowledge?
Oktober 5th, 2008 at 17:44
… if HRE gets BUND-guarantees… they should be nationalized …
Germany should create a “TREUHANDANSTALT” for bad banks…
… including the ailing “Landesbanken” …
… HRE`s Hypo Real Estate International Bank AG is the former “Württembergische Hypothekenbank” … so … assumably… the “Landesbank Baden-Württemberg” should be a major creditor of HRE …
Oktober 5th, 2008 at 19:37
Send them to PRISON!!!