To illustrate that it is baseless, he points to what he considers another great firm unfairly maligned by its critics as arrogant: Drexel Burnham Lambert, a freewheeling investment bank that shot from nowhere to market prominence in the junk-bond boom of the 1980s.
While SNS Reaal has been trying to direct its own trajectory, an attempt to unload its property loans into a so-called bad bank, with other Dutch banks as shareholders, was shot down by the European Commission earlier this month because of competition concerns.