Thursday, Aug 09, 2007
Another one on the ropes
FT.com: BNP suspends funds after subprime shock
French bank BNP Paribas has suspended three of its funds on Thursday as problems in the US subprime mortgage sector are preventing it from calculating their value.
It said the valuation of the funds would resume as soon as liquidity returned to the market and added that in the continued absence of liquidity, additional information on the envisaged measures would be communicated to investors within a month.
[Poof! There goes another bundle of funny money]
Posted by dohousescrashinthewoods @ 09:20 AM (158 views) Add Comment
7 Comments
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1. Orwell said...
I'd like to know when it will spread over here. Then there really will be fireworks when the first announcement is made...Soiled underwear comes to mind...
2. Orwell said...
Hey,
Is there any relation between sub prime and foot and mouth? They are both catching and very virulent...
3. paul said...
It will spread globally I think. Doubt and uncertainty breed doubt and uncertainty. And the complexity of the debt instruments means that everyone could be far more exposed than they realise.
The party is well and truly over.
4. mrmickey said...
Maybe if we shut our eyes and hummed loudly it might go away.
5. sold 2 rent 1 said...
mrmickey,
"Maybe if we shut our eyes and hummed loudly it might go away."
Nope. That won't work.
"Scotty, you need to put your fingers in your ears too and shout la-la-la-la-la-la-la."
"That might just work Captain."
6. Orwell said...
Mr M.,
That's what the BOE have been doing for two terms of Mew Labour now...
7. Kagiso said...
I am having trouble selling my clapped out twenty year old VW golf. I had assumed it was because it was worthless. I now realise it is because of a lack of liquidity.