Deutsche Bank economist sees bank pain

Sat 26 Jul 2008
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 (Frankfurt: DB9999 - news) '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 , 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."

Source: http://uk.biz.yahoo.com/25072008/325/deutsche-bank-economist-sees-bank-pain.html