Thursday, Jul 26, 2007
Would you like milk on your Credit Crunch sir?
BBC: Debt crisis hits Chrysler buyout
The recent volatility in global debt markets has thrown the funding for the buyout of Chrysler into disarray.
Banks have failed to find buyers of loans worth $12bn (£5.8bn) to help Cerberus Capital Management buy DaimlerChrysler's loss-making US arm.
Posted by tyrellcorporation @ 04:04 PM (208 views) Add Comment
1 Comment
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1. dohousescrashinthewoods said...
From yesterday's MoneyWeek post:
"With the money drying up, it’s only a matter of time before one of these deals actually collapses. And then the panic will really start."
(http://www.moneyweek.com/file/32670/the-subprime-crisis-hits-the-mainstream.html)
So I guess the panic is starting then?
I have made a virtual £1500 singe this morning betting against the FTSE, so I guess the answer is yes.