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Friday, February 20, 2009

Hypo Real Estate in Germany has huge hidden losses

But they are embedded in billions and billions of derivative contracts that are supposedly "hellish." $600 billion euros of this junk is off-balance sheet.
http://www.handelsblatt.com/unternehmen/banken-versicherungen/die-hre-und-die-1-000-000-000-000-euro-frage;2164369

The Google translation;
http://translate.google.com/translate?prev=_t&hl=en&ie=UTF-8&u=http%3A%2F%2Fwww.handelsblatt.com%2Funternehmen%2Fbanken-versicherungen%2Fdie-hre-und-die-1-000-000-000-000-euro-frage%3B2164369%3B2&sl=de&tl=en&history_state0=

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