Sorry, bondholders, ABN Amro said, but your securities were issued by an empty corporate shell.

FORBES: Chinese walls, European-style

Unlike in the U.S., where the Glass-Steagall Act severely limits the ability of banks to engage in securities underwriting, European giants such as ABN Amro and Germany's Deutsche Bank can do everything from issue corporate bonds to sit on the board of directors.

FORBES: Chinese walls, European-style

"The longer the process takes, the more more good people will leave, " analysts at Rabo Securities were quoted by AFX News as saying, adding that 'the value of the standalone ABN Amro franchise is deteriorating due to this.

FORBES: Magazine Article