"The next chapter of the subprime-lending debacle could include fraud charges for investment banks and companies that did not fully explain the risk of subprime-related securities to investors." source:iht.com
"A doubling in currency volatility since June has knocked the ``carry trade'' off its perch as the most profitable strategy in foreign exchange, hurting investors from John W. Henry & Co. to Campbell & Co." source: bloomberg
``I don't think that the unwind of the carry trade is over by a long shot,'' said Naomi Fink, senior currency strategist at BNP Paribas SA in New York. ``The subprime issues remain.'' source:bloomberg
"Hiscox also said it had “almost no exposure to subprime mortgage backedproducts.”" source:iht.com
"The subprime mortgage crisis may generate more claims on so-called directors and officers insurance policies and similar coverage, according to one of the world's largest insurance brokers. " source:cnn
"Switzerland's top banker has warned of massive losses from the unfolding credit
crisis, describing the collapse in US lending standards as "unbelievable". Jean-Pierre Roth, president of the Swiss National Bank, said market turmoil was far from over as tremors from the sub-prime debacle continued to rock the world." source:telegraph.co.uk
"Billionaire investor Warren Buffett may buy parts of beleaguered mortgage lender Countrywide Financial Corp (CFC), some investors are speculating, according to The Wall Street Journal." source: reuters
"Ottimo Funding LLC, whose name is Italian for ``excellent,'' has the highest possible credit rating and doesn't own subprime mortgage bonds. That made no difference to investors who refused to buy Ottimo's $3 billion of short-term debt this month as losses on home loans to risky borrowers infect the global credit markets." source: bloomberg
"The 1-month T-bill rate has plunged from 4.52% last Tuesday to as low as 1.25% today. That's not a typo! It was actually down by more than THREE full percentage points in just four trading days!" source:moneyandmarkets
"Foreclosure filings rose 9 percent from June to July and surged 93 percent over the same period last year, with Nevada, Georgia and Michigan accounting for the highest foreclosure rates nationwide, a research firm said Tuesday." source:yahoo.com
"The Bank of England said that it loaned 314 million pounds ($628 million) from its standing facility, marking the first time that a commercial bank has asked for additional money since July 17. " source:bloomberg
