SocGen: Capital Général

Société Générale is adamant that it doesn’t need money. Like other French banks, it warmly praised the French government for taking its part in the Europe-wide rescue package agreed a week ago… and rushed to claim that it has no use for any of the E40bn of state money on offer. Yet SocGen shares are down almost 20% since the package was announced, on rumours that it will indeed raise capital. The best way for the bank to stop the rumours would be to grab the bull by the horns and align itself t...