[lbo-talk] HRE: Crisis Hitting Europe

[Angelus Novus]

>From the (admittedly limited) set of English-language
news sources I frequent, both mainstream and radical,
the cascading crisis in the German financial sector
doesn't seem to be getting much play at all.  The
liquidity crisis and subsequent sale of Sachsen LB in
the past year seems to have gone unmentioned, and the
current high-level hand-wringing about Hypo Real
Estate also doesn't seem to be registering much.

Here a few links in German.

(Note: the final article cited from Der Spiegel still
mentions the supposed rescue of HRE, which we now know
was announced too prematurely)

Hypo Real Estate:

http://www.handelsblatt.com/unternehmen/banken-versicherungen/hypo-real-estate-kaempft-ums-ueberleben;2055142

http://www.handelsblatt.com/unternehmen/handelsblatt-kommentar/zu-frueh-gefreut;2055219

Deutsche Bank and Commerzbank try to reassure the
public and investors:

http://www.spiegel.de/wirtschaft/0,1518,582263,00.html

Threatening liquidity crisis:

http://www.spiegel.de/wirtschaft/0,1518,582139,00.html