European Bank Smack Down

First it was ING.

http://www.ft.com/cms/s/0/681ffe72-c200-11de-be3a-00144feab49a.html

Now Brussels has its targets on RBS.

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/6470180/EU-competition-commission-foists-draconian-remedies-on-RBS.html

ING will be scaling back its balance sheet 30%. RBS, Lloyd's, and Northern Rock equally quaking in their boots.

Blackrock CEO Larry Fink thinks that downsizing US Financial Institutions (TBTF)will make it far more difficult to compete with European Banks. He should start reading European Financial newspapers.