Tuesday, Mar 13, 2007
The sound of subprime implosion
Bloomberg: Accredited Shares Fall, New Century Trading Suspended
The sound of subprime implosion - can you hear it?
"March 13 (Bloomberg) -- Accredited Home Lenders Holding Co., a mortgage company for people with bad credit, needs to raise cash after paying more than $190 million demanded by backers this year. The stock lost almost half its value.
...
New Century, based in Irvine, California, said today it received default notices from UBS AG, Barclays Plc and three other banks, adding to five such notices disclosed yesterday. The New York Stock Exchange said in a statement before trading began it will suspend trading in New Century's shares, which have lost 95 percent of their value this year."
Posted by goldfinger @ 02:13 PM (163 views) Add Comment
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