The Madoff Crisis Hits Europe Hard
Europe's banking sector is ending 2008 just as it started the year—with the announcement of potential billion-dollar writedowns. Yet instead of exposure to subprime or securitized assets, this new round of prospective losses relates to European banks' links to the alleged $50 billion fraud of hedge fund manager Bernard Madoff.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.