Friday, Nov 16, 2007
That gleaming bodywork is in fact coated rust! Bad debt trashes a myriad of US institutions...
Bloomberg: MBIA, Ambac Downgrades May Cost Market $200 Billion
``We shudder to think of the ramifications,'' said Greg Peters, head of credit strategy at New York-based Morgan Stanley, the second-biggest U.S. securities firm by market value. ``You have politicians, taxpayers, municipalities, states. It just opens up a Pandora's box. That is a huge destabilizing force.''
Posted by tyrellcorporation @ 09:26 AM (294 views) Add Comment
1 Comment
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1. dohousescrashinthewoods said...
So, a couple of months back people were saying sub-prime would be limited to about £200 million and nobody here believed them.
Out it comes, piece by corrupt and mis-sold piece - and the numbers keep rising.