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It kind of sucks to see them busting up their business
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I read one article that said the EC didn't like the idea of their European tax money being used to prop up ING's American businesses, especially since it's American mortgages that's messing up ING's balance sheet. So, the EC forced ING to get rid of INGDirect.
I wonder how much INGDirect would go for. They say they have $75bn in deposits and $90bn in assets. Although, apprently, a good chunk of their assets are these Alt-A-style mortgages.
This so-called "analyst" name-checks a couple large Canadian banks: TD or RBC.
ING's Fate: From Bank Deposits to Marathons at SmartMoney.com
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“A large bank would look at not only an opportunity to acquire a profitable business, but also a customer base to cross-sell to,” he says. Potential candidates? Don’t be surprised if some of the large Canadian banks, such as Royal Bank of Canada or TD Bank, express an interest, Shevlin says.
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