Banks urged to disclose losses


	Banks urged to disclose losses

tabsey

2-9-2008 4:03 AM

174 views

tags:

economics

tabsey says:

Anew twist - banks being told what to do. Usually they only cooperate when there is something to be gained.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/ed16d584-32ed-4c4c-98dc-d75230a2e771/3E177055-ECF4-4514-B1A9-26109FABA719/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://english.aljazeera.net/NR/exeres/1584FE79-C043-4DD8-95F6-E89A34EEB329.htm" href="http://english.aljazeera.net/NR/exeres/1584FE79-C043-4DD8-95F6-E89A34EEB329.htm" style="font-size: 11px;">english.aljazeera.net</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://english.aljazeera.net/NR/exeres/1584FE79-C043-4DD8-95F6-E89A34EEB329.htm"><DIV>Finance ministers from the "Group of Seven" rich nations have urged banks to come clean over their subprime-related losses, according to a draft statement.</DIV></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://english.aljazeera.net/NR/exeres/1584FE79-C043-4DD8-95F6-E89A34EEB329.htm"><DIV>The ministers and central bank heads of Britain, Canada, France, Germany, Italy, Japan and the US met in Tokyo on Saturday, to discuss the global economy, amid concerns of a slowdown.</DIV></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://english.aljazeera.net/NR/exeres/1584FE79-C043-4DD8-95F6-E89A34EEB329.htm"><DIV>Despite the meeting, analysts say a co-ordinated move by the G7 to bolster their economies is unlikely.</DIV></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://english.aljazeera.net/NR/exeres/1584FE79-C043-4DD8-95F6-E89A34EEB329.htm"><DIV>"Where co-ordinated action is found to be necessary, we will do all that is needed," Alistair Darling, Britain's finance minister, said in an interview with the UK's <EM>Financial Times </EM>daily.</DIV></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://english.aljazeera.net/NR/exeres/1584FE79-C043-4DD8-95F6-E89A34EEB329.htm"><DIV>"We are all after the same thing and this is to restore stability."</DIV></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://english.aljazeera.net/NR/exeres/1584FE79-C043-4DD8-95F6-E89A34EEB329.htm"><DIV>In an interview with Japan's <EM>Nikkei</EM> daily, Henry Paulson, the US treasury secretary, said banks should take losses and raise capital quickly to alleviate a credit crunch.</DIV></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; 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