Friday, July 04, 2008

A Lot Of Semolians

All not well in Europe, either.

July 4 (Bloomberg) -- European banks may need to raise as much as 90 billion euros ($141 billion) to restore their capital after the U.S. subprime mortgage collapse caused credit markets to seize up, according to Goldman Sachs Group Inc.
European banks have already raised $115 billion from investors to replenish capital after reporting $134 billion in writedowns, Goldman analysts led by Christoffer Malmer said in a note to clients today