%% I clicked on their website\ can't make this stuff up They have a job opening for '' Internal Audit Director,Financial Crime Compliance'' Strange. Another BIG problem for them\ brass metal is cheap per pound, so 100% swing per week can + has happened. Dont know if the central banks will let them go belly up\ but that's another subject; for sure LEH was NOT ''too big to fail'' nor was Bear Stearns...................................
Some European bank p/b ratios Deutsch bank. 0.21 Credit Suisse 0.23 BNP Paribas 0.41 Credit Agricole 0.40 Societe Generale 0.25 Barclays 0.29 Intesa Sanpaolo 0.52 Ing 0.58 HSBC 0.54 IMO, the whole thing is a house of cards.
Expanding on the above a bit... I don't see how anybody justifies putting their money with one of these firms. The only interpretation I can come up with for those P/B ratios is that no one believes the audited financial statements. If Credit Suisse had a book value that was really 4X their market cap, Richard Gere is supposed to fly in, date Julia Roberts, break up the company and sell it for a massive profit. Given that they're currently losing money, ceasing operations and selling off the assets is the obvious play.... assuming the assets actually exists and are properly valued.