Following on from the theme established by my colleague Rob (in stating the obvious):
The FT reports this morning that French banks are against the idea of a bank recapitalisation programme. This news follows on from a reasonably sustained campaign by Josef Ackerman, Chief Executive of Deutsche Bank and Chairman of the
(a global association of banks), expressing similar sentiments. Institute of International Finance
A recapitalisation would require existing investors to provide new funds or see their share of the banks’ ownership and their entitlement to its profits reduced. It would also see management’s share of the company (whether through options or outright share holdings) diluted.
In other news, a statement by the International Institute of Turkeys advised that the festive period is a good time to experiment with vegetarianism while the Glass Dwellings Residents Association have mounted strong opposition to a stone throwing championships proposed to regenerate the area.