RBS bought ABN Amro for $100bn one year ago, of which 80% was cash.
Today, the same figure would buy:
Morgan Stanley $10.5bn
Goldman Sachs $21bn
Merrill Lynch $12.3bn
Deutsche Bank $13bn
And still have $8bn change!!
On the upside at least they didn’t invest their $100bn with Bernie Madoff!!
The banks are depreciating faster than an Alfa Romeo!
Is that all they cost?
I might just buy Merrill Lynch for a laugh!