I did not even finish my article on privatisation when the reverse happened. ABN-AMRO Fortis ASR has become a state owned company.

This week we where discussing the rescue operation for Fortis Bank. I pointed out that it would have been smarter to just buy ABN-AMRO for a price of 14 billion Euro. That way ABN-AMRO would be saved and the rest of Fortis would have it's much needed liquidity. Last night world news was dominated with the government buying out ABN-AMRO plus the Dutch parts of Fortis and Fortis insurance activities in Holland for a price of 16,8 billion Euro. I must say Wouter finally did something sensible. The 2,8 billion payed for the extra parts of Fortis computes. I think it will be possible to sell of the bank with nice 30 or 40 percent profit in a couple of years. I also like it my insight in economy and politics was so close to reality.