Societe Generale SA (SCGLY)

[tykundegex]

A relevant quote from an article I just read:

The governor of the Bank of France, Christian Noyer, also moved to ease worries over the impact on his nation's banks.
''I have no concerns over French banks because even if we take extreme hypotheses, of very large losses on French banks' positions in Greece, that would only cut relatively modest amounts from annual results,'' said Mr Noyer, who is also a member of the governing council of the European Central Bank.
Brokerage Nomura said potential write-downs were largely ''manageable'' in the context of €1.8 trillion of equity capital sitting in Europe's banks.


Read more: http://www.smh.com.au/business/banks-threatened-as-greece-teeters-on-edge-20110616-1g641.html#ixzz1Xpf3ghUb

P.S. SocGen rebounding nicely today in Paris .. up 7% from the close, 12% from today's lows...