Thursday, Oct 04, 2007
2007 is not a good vintage!
Bloomberg: US Subprime Delinquencies Accelerating, Moody's Says
For bonds older than six months, 2006 was the worst year for serious delinquencies since at least 2000, Moody's said in the report. However, data in the report suggests that accelerating delinquencies from 2007 bonds are likely to eclipse 2006!
Posted by alan @ 10:06 PM (306 views) Add Comment
3 Comments
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1. japanese uncle said...
2007 will be remembered with the same weight as 1929, and the Northern Rock run will be written in history textbooks let alone economics textbooks.
2. Nelson said...
I'm confused. Will the investment banks have to continue to make 'write downs' because of the sub-prime problems - as the press seem to suggest that the crisis is over? Also if more sub-prime loans default who picks up the tab? The US banks or the investment banks in other countries? Surely the debt defaults are only just beginning?
3. dohousescrashinthewoods said...
JU, I wonder if the NR run will be lost under the size of subsequent runs. Perhaps it will be remembered as the "pebble that started the landslide" ;)