sub prime

The repackaging of sub prime bits of scrag end as prime cuts precipitated this ungodly disaster. If the quality of these assets had not been misrepresented then presumably we would not be experiencing a credit crunch. However, how would a more realistic appraisal of these assets have affected...

It was revealed today in the news that UBS is expected to declare a 2008 first quarter loss that will give rise to a total loss attributable to the sub-prime mortgage crisis of $37.5 billion. Apparently, Merrill Lynch’s losses are not much smaller, and there is clearly a long line of lenders...