End of the road

Carnegie has reached the end of the road. After 205 years as one Scandinavia’s leading investment banks, Sweden has nationalised it. But Carnegie’s unenviable record of brushes with the regulators, a record fine, and losses culminating in a government bailout make survival intact unlikely. Sweden has acted decisively in its first bank nationalisation of the credit crunch and its first since the banking crisis of the early 1990s. The Financial Supervisory Authority revoked the bank’s licence and ...