Fragile Banks: More Bailouts, More Capital

By: Financial Ninja Wednesday, April 23, 2008 12:35 AM

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This is the SECOND German bank to run into trouble this month:

Duesseldorfer Hypo Rescued by Bank Group After Crisis (Update2): “Duesseldorfer Hypothekenbank AG, the closely held German public-sector lender, was bailed out by a group of banks, at least the fifth lender in the country to get emergency aid since the collapse of the U.S. subprime market.”

I must emphasis the fact that it is the FIFTH bank in Germany to get emergency aid.

“The BdB banking association bought Duesseldorfer Hypo from the Schuppli family and aims to sell it to a new owner, it said in an e-mailed statement late yesterday. The bank, which has a balance sheet of 26.7 billion euros ($42.4 billion), has booked 8.5 million euros in writedowns on asset-backed securities since last year.

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