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September 17, 2007 (LPAC)--The dramatic escalation of the crisis a Northern Rock, one of Britain's leading mortgage lenders that is now going under, is expected to also hit numerous German banks badly: a report in the Frankfurter Allgemeine daily today mentions Commerzbank's Cominvest "Premium Plus" fund, as having invested into the British mortgage bank; furthermore, DWS and Allianz are involved with funds, and among German state banks, Landesbank Baden Wuerttemberg (LBBW) and Bayern LB are named, as having invested billions of euros in Northern Rock through conduits. One of the special ironies here is that LBBW, the Baden-Wuerttemberg state bank which was portrayed as the allegedly best new owner of the defaulting Sachsen LB, is exposed, as many have indeed rumored before, as being in big trouble itself. This reminds one of the scene in a famous Breughel painting about the blind leading the blind into the abyss.