Standard Chartered shares sink on shock quarterly loss; Will raise $5.1bn, cut 15,000 jobs by 2018

``The restructuring was announced as the bank reported a "disappointing" third-quarter pre-tax loss of $139m for the three months to September... Revenue fell 18.4% to $3.68bn and losses on bad loans almost doubled to $1.23bn for the quarter... Analysts at Investec analysts described news the loss as "awful" given the expectation of a $903m profit, adding: "the worst aspect ... is a broad-based collapse in revenues" -- Call us permaskeptics, but it does seem like the traditional banking system is dying a slow, miserable death, even the TBTF behemoths (their situation reminds us of a dyke past the point of repair)...