Deutsche Bank economist sees bank pain

Fri Jul 25, 2008 5:36pm BST
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NEW YORK (Reuters) - U.S. and European bank write-downs and losses will likely stretch out over the next nine months, expanding beyond problem mortgages to other forms of consumer credit, Deutsche Bank's chief U.S. economist said on Friday.

"The worst of the pain will be felt over the next six to nine months," Peter Hooper, the chief U.S. economist at Deutsche Bank (DBKGn.DE: Quote, Profile, Research), said on Friday, in response to a question about future financial write-downs and losses. "It will be painful in both the U.S. and Europe."

(Reporting by Walden Siew; Editing by Tom Hals)

 
 
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