The cost of banks

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Consider that one year ago Royal Bank of Scotland paid US$100 billion for ABN Amro. That seemingly impossible amount would now buy:

  • Citibank $22,5 billion (74% down)
  • Morgan Stanley $10,5 billion (-72%)
  • Goldman Sachs $21 billion (-67%)
  • Merril Lynch $12,3 billion (-77%)
  • Deutsche Bank $13 billion (-71%)
  • Barclays $12,7 billion (-71%)

And still leave $8 billion change – with which you would be able to pick up General Motors, Ford, Chrysler and the Honda F1 team.

Source: Financial Mail, December 19, 2008.

 

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