Wednesday, December 17, 2008

Fortis Bank May Lose a Billion Euro

Minister of Finance Wouter Bos (Labor) told Parliament that the nationalized Fortis Bank is the main victim in the Netherlands of the huge American Madoff fraud case. Current estimates say that the damage may reach one billion Euro.

1 comment:

Jan said...

I don't understand this site. What has -bad news from the netherlands-to do with the state of Israel?

What is bad about the news that Fortis NL lost possibly €,=
Shareholders will have a lot less to cry for. Fortis was a bad Belgian bank who tore apart ABNAMRO from the Netherlands in a nasty way.
This happens all over the world with companies that are targeted by hedge funds (remember that ABNAMRO was taken under fire by the British -the Children's Investment Fund- in January 2007).

You should learn your lessons before you talk economics.