Hades, I agree. The ROE is terrible, but I'm reasonably relaxed that about it given the last six months have been pretty shocking, and they have been careful not to jump the gun too fast re laying off staff just in case it all turns around again quickly. And not using their capital more agressively, in the last six months, has been a very wise move, considering the long CDS/short stock crowd have been back in town, and making life VERY difficult for undercapitalised banks. Just ask the Frenchies :)
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Hades, I agree. The ROE is terrible, but I'm reasonably relaxed...
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