Re: EuroTrash Banks Get Trashed Again
A lot of words, I guess meant to imply the author knows what he is talking about. But the discussion on the "denominator" shows a complete lack of understanding of Euro bank accounting and the differences in the way they account for derivatives. And comparing DB's leverage ratio with US requirements where accounting is much more lenient where derivatives are concerned are either uninformed of purposely misleading. Sounds impressive, unless you know what is going on.