Subprime News 11.15.07
- East Asian Economies to Remain Robust - The Associated Press - Nov 14, 2007
- Zurich Financial 9-mth net beats forecasts, hikes after-tax ... - Forbes - Nov 14, 2007
- Hedge-Fund Managers Float to Heaven, Fall to Hell in Art Sale - Bloomberg - Nov 14, 2007
- Bear Stearns trades broke rules, state says - Boston Globe - Nov 14, 2007
- Big Banks See Things Looking Up - Kommersant - Nov 14, 2007
- How risky US subprime mortgages contaminated the global markets - MarketWatch - Nov 14, 2007
- Two hedge funds move on after big subprime bets - MarketWatch - Nov 14, 2007
- Merrill Bucks History in Subprime's CEO Crisis by Picking Thain - Bloomberg - Nov 14, 2007
- Bear Stearns Fund, Battered by Subprime Woes, Seeks to Dissolve - Bloomberg - Nov 14, 2007
- Subprime Debt Crisis Causes Corrections in Dow Jones, US Dollar - Nov 14, 2007 - dr@dailyreckoning.com.au (The Daily Reckoning) : "According to our view of things, the great credit bubble is losing air. We reported an estimate that the subprime crisis might end up costing as much as half a trillion dollars. This week brought more estimates – one at US$200 billion. The other at US$400 billion. Whatever the final tab, a hundred billion here…a hundred billion there. Pretty soon, you’re talking real money. And when this money disappears, you have to expect that people will have less money to throw around."
- Subprime fallout - What's in your Money Market Fund? - Nov 14, 2007 - Liberal Protestant : "Trouble is, with interest rates low some money market funds have been pretty aggressive in scrambling around for higher yields. Inevitably, some of them bought the asset-backed commercial paper that supported some of the Structured Investment Vehicles (the aptly-named SIVs) holding, you guessed it, subprime mortgages. "
- Barclays reports on sub-prime losses - Nov 14, 2007 - unknown
- White House criticizes proposed fix to subprime crisis - Nov 14, 2007 (John Bresnahan) :"The White House criticized key provisions, including the bill’s specific national underwriting standards and its attempt to make Wall Street accountable for bad loans, saying they “could overly constrict the primary and secondary markets for mortgage finance.” "
- HSBC warns of more sub-prime misery - Nov 14, 2007 - unknown : "Equity markets are overpriced and the global economy is set to stall as a direct result of the liquidity crisis, HSBC warned yesterday as it revealed a further $1.4bn (£670m) of sub-prime losses. Indicating that the credit crunch will infect the broader economy, Stuart Gulliver, HSBC's global head of investment banking, said that stock markets are not reflecting the prospect of slower growth in the years ahead. "I find the equity market performance to date quite puzzling," he said. "Sectors other than the banks are trading as "If you take the US stock market, for example, and strip out the banking sector, it's recently been at record highs. Does that make sense to you? I don't think so."
- Bankruptcy Blowback - Nov 14, 2007
- Sub-prime fallout and imminent real estate recovery - Nov 14, 2007 : The article is quoting Lawrence Yun from the NAR. He states that the Northwest and Midwest continue to see price increases in condos and non-jumbo mortgages. Furthermore, the large number of jobs created, the increasing wages and the wealth that was created by the stock market will support the housing market. The next 13 months $683 billion will be reset and if Bernanke can keep the interest low over this time, maybe, just maybe people can maintain their payments and not more people fall into foreclosure. I have a hard time believing this since Bernanke will have to convince the world that for the next year we will have little inflation in the US. He will also have to calm down the bond market. With the dollar crashing, causing import prices to rise and risk premiums being repriced, i certainly do not envy Bernanke.
- Who Runs to Subprime Mortgage Refinancing - Nov 14, 2007
- GE Fund Latest Victim of Subprime, Mortgage Losses - Nov 14, 2007
- Toxic test: Did securitization work in subprime crisis? (Market Watch) - Nov 14, 2007: "Mortgage lenders have been making riskier loans because they know that after they securitize, or sell the assets on to other investors in a securitization, it's no longer their problem."
- Two hedge funds move on after huge rewards from subprime crisis (Market Watch) - Nov 14, 2007
- Will Subprime Crisis Be Impetus for Bankruptcy Reform by Congress? (Law.com) - Nov 14, 2007
- Japan's 10-Year Bonds Gain on Signs Subprime Losses Spreading (Bloomberg.com) - Nov 14, 2007
- Consumer housing groups warn subprime mess to be worse (Reuters via Yahoo! News) - Nov 14, 2007
- Foreclosures nearly double from year ago: report - Nov 14, 2007 : "A large share of loans in recent years were adjustable-rate and other products aimed at improving affordability. But payment shock after large interest-rate adjustments has made the default and foreclosure rate spike."
- ML-Implode/Krowne Interview In Nov. Niche Report - Nov 14, 2007
- Report: Orlando foreclosure filings up 184% - Nov 14, 2007
- What lies ahead for Woodbury's Delta Financial? - Nov 14, 2007
- Citigroup Pays Highest Premium on 10-Year Bond Sale - Nov 14, 2007
