Margareta Pagano: There's no gain, just pain and you can bank on it

[Legal Beagles]

As Al Pacino said in Carlito's Way: "Here comes the pain." And it's going to be serious pain, with more of the UK's high street banks in deep trouble. Their shares were in freefall again last week, with investors wanting to know when they were going to start repairing their balance sheets. But which bank will be first to break cover and how will it do so? Will it be through rights issues, fire sales or bringing in new strategic investors?


More...