RBS May Write-Down $14 Billion

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The only good news at Royal Bank of Scotland is that the bad news is not worse. RBS will probably write down another $14 billion and raise as much as $12 billion through a rights offering.

"It will likely be a kitchen-sinking exercise. They only want to do this once," one of the sources said according to Reuters.

Those who thought the banking crisis was passing may want to think again.

Douglas A. McIntyre