• 02 Aug 2007 at 12:44 PM
  • Barclays

Subprime Risks Won’t Affect Any Banks’ Profits For 2007, Barclays Included

By Bess Levin

barclayseagle.gifBarNLoungeclays announced today that the British bank posted a 14% increase in first-half net income, and said definitively that subprime mortgage defaults across the pond won’t hurt the investment bank this year. The chippies were able to protect their bottom line because as a group they are “very risk aware” and know that if you click your heels three times, subprime won’t affect profits (at least in 2007). 1st _ ½_P rose to 2.63 billion pounds ($5.35 billion, 40.1 pence/share), up from 2.3 billion pounds (35.1 pence/share) last year.
BarCap, conveniently located above Beer Bar, which Barclettes have not yet vouched for, will see a profit increase of at least 15% a year through 2008, and has limited risks in subprime mortgages, Barclays President Robert Diamond said. (Why, what have you heard?)
Barclays Says Subprime Risks Won’t Reduce 2007 Profit [Bloomberg]

Comments (16)

  1. 1
    Posted by Andy | August 2, 2007 at 12:59 PM

    Oh….Maria is going to be pissed at you Bess. You know showed up at 10:45 eastern on CNBC bags packed (under eyes) and all to be the ONE to do the interview about how Barclays was doin. It may have been John who referred to Maria’s work as “goin down on her sources”. That might be the answer. Thanks

  2. 2
    Posted by Anon | August 2, 2007 at 1:03 PM

    Wait … what … BL was on CNBC this morning?

  3. 3
    Posted by inIT4the$ | August 2, 2007 at 1:10 PM

    looking for a second opinion on BL on CNBC, anyone?
    Beer Bar is pretty cool.

  4. 4
    Posted by Anon | August 2, 2007 at 1:23 PM

    Just saw the CNBC video. No sign of BL. But Maria looked like hell.

  5. 5
    Posted by Anonymous | August 2, 2007 at 1:29 PM

    BL was on with Burnett

  6. 6
    Posted by roger | August 2, 2007 at 1:33 PM

    bl and burnett were on together? thats amazing. I had that very same dream last night.
    were they wearing bearskin thongs and dancing around a ginormous jewel encrusted phallus screaming my name in orgasmic tones?

  7. 7
    Posted by anon | August 2, 2007 at 1:34 PM

    You’re kidding… When was she on?

  8. 8
    Posted by anon | August 2, 2007 at 1:38 PM

    I think you guys are confusing Brad Levin with Bess Levin …

  9. 9
    Posted by Anonymous | August 2, 2007 at 1:41 PM

    it was so hot

  10. 10
    Posted by Anonymous | August 2, 2007 at 2:14 PM

    bess and burnett was the best way to start the morning ever

  11. 11
    Posted by anon | August 2, 2007 at 2:24 PM

    Bess was not on CNBC.

  12. 12
    Posted by Anonymous | August 2, 2007 at 2:30 PM

    yes she was

  13. 13
    Posted by roger | August 2, 2007 at 2:34 PM

    no, brad levin wasnt in my dream at all.

  14. 14
    Posted by anon | August 2, 2007 at 2:36 PM

    When was she on Anonymous 2:30? Why doesn’t she show up at CNBC.com?

  15. 15
    Posted by inIT4the$ | August 2, 2007 at 3:16 PM

    I can’t say that I’m not intrigued as to what BL looks like, but man, if there was ever a way to get this group into a frenzy it’s to say that she has appeared somewhere in public.

  16. 16
    Posted by Anonymous | August 2, 2007 at 3:19 PM

    2a, lower east side

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