Swedish Banks ? Dont make me laugh ! Sh!t hits the fan

[Jock_the_Waster]

Can the clowns that support NAMA stop refering to the Swedish Model

It looks like they are heading back to where they started...

Swedbank, one of the largest Nordic lenders, announced Monday that it is issuing preferred stock to raise about $2.1 billion to shore up its core business as loan losses continue in the eastern Baltic

Swedbank shares fell as much as 7 percent Monday before the stock recovered in early trading to be down 3.4 percent, or 2.25 kronor, at 63.75 kronor.

This is the second share issue Swedbank has made in the past year, the first being for 12.4 billion kronor last autumn.

Swedbank invested heavily in the Baltic states during their years of heady growth, but now those economies are in trouble

It also announced it would cut 3,600 jobs by next summer

Swedbank calls surprise $2.1 billion rights issue | Deals | Reuters

Note the layoffs! How does Anglo continue to employ 1700?

[Rich OC]

Can the clowns that support NAMA stop refering to the Swedish Model

It looks like they are heading back to where they started...

Swedbank, one of the largest Nordic lenders, announced Monday that it is issuing preferred stock to raise about $2.1 billion to shore up its core business as loan losses continue in the eastern Baltic

Swedbank shares fell as much as 7 percent Monday before the stock recovered in early trading to be down 3.4 percent, or 2.25 kronor, at 63.75 kronor.

This is the second share issue Swedbank has made in the past year, the first being for 12.4 billion kronor last autumn.

Swedbank invested heavily in the Baltic states during their years of heady growth, but now those economies are in trouble

It also announced it would cut 3,600 jobs by next summer

Swedbank calls surprise $2.1 billion rights issue | Deals | Reuters

Note the layoffs! How does Anglo continue to employ 1700?

Makes interesting reading and it gave me a thought.

Why not test the markets view of NAMA by establishing it as a PLC and floating it on a stock exchange. If it is going to make a good profit as people suggest then the market would be willing to pay for future earnings, and we would not have to finance it from public debt.

[Hal]

Can the clowns that support NAMA stop refering to the Swedish Model

It looks like they are heading back to where they started...

Swedbank, one of the largest Nordic lenders, announced Monday that it is issuing preferred stock to raise about $2.1 billion to shore up its core business as loan losses continue in the eastern Baltic

Swedbank shares fell as much as 7 percent Monday before the stock recovered in early trading to be down 3.4 percent, or 2.25 kronor, at 63.75 kronor.

This is the second share issue Swedbank has made in the past year, the first being for 12.4 billion kronor last autumn.

Swedbank invested heavily in the Baltic states during their years of heady growth, but now those economies are in trouble

It also announced it would cut 3,600 jobs by next summer

Swedbank calls surprise $2.1 billion rights issue | Deals | Reuters

Note the layoffs! How does Anglo continue to employ 1700?

Because it was nationalised, but only six months have passed, give it time.

[Hal]

Makes interesting reading and it gave me a thought.

Why not test the markets view of NAMA by establishing it as a PLC and floating it on a stock exchange. If it is going to make a good profit as people suggest then the market would be willing to pay for future earnings, and we would not have to finance it from public debt.

Who has suggested NAMA will make a profit?

[cactusflower]

Anglo is not only employing generously, its also lending money to property developers.
It's the darndest little bank in Texas!

[Clanrickard]

Who has suggested NAMA will make a profit?

I have heard it said it may make a profit.

[Hal]

I have heard it said it may make a profit.

And indeed it may, but most probably it won't.

[Hal]

Anglo is not only employing generously, its also lending money to property developers.
It's the darndest little bank in Texas!

It's doing what banks do, trying to protect it's interests. Would you have a nationalised bank do any less?

[hurling_lad]

Can the clowns that support NAMA stop refering to the Swedish Model

It looks like they are heading back to where they started...

Swedbank, one of the largest Nordic lenders, announced Monday that it is issuing preferred stock to raise about $2.1 billion to shore up its core business as loan losses continue in the eastern Baltic

Swedbank shares fell as much as 7 percent Monday before the stock recovered in early trading to be down 3.4 percent, or 2.25 kronor, at 63.75 kronor.

This is the second share issue Swedbank has made in the past year, the first being for 12.4 billion kronor last autumn.

Swedbank invested heavily in the Baltic states during their years of heady growth, but now those economies are in trouble

It also announced it would cut 3,600 jobs by next summer

Swedbank calls surprise $2.1 billion rights issue | Deals | Reuters

Note the layoffs! How does Anglo continue to employ 1700?

The Swedish 'Bad Bank' model was employed by the Government there in the early 1990s.

The article that you link to has nothing to do with the 'Swedish model' and has no relevance to NAMA.

[reknaw]

I think when they speak of the Swedish model, they are referring to the solution that Sweden adopted in the early 1990s - when the State stepped in to buy up non-performing assets and let the banks return to liquidity. As it happened, Sweden ended up turning a profit on the assets, most of which eventually appreciated.

The comparison between Swedbank and NAMA is rather far-fetched. The former has issued preferred stock to raise $2.1 billion and has already raised around $1.5 billion that way. In other words; it is raising around €3 billion from investors in a country of nine million people.

In Ireland, by contrast, NAMA will require, they say, €90 billion of taxpayers' funds in a country with less than half of Sweden's population. As this guy would say:

Yuoo reelly need tu get a sense-a ooff prupurshun!