Wednesday, Jan 30, 2008
Standard & Poor's Ratings Services is considering slashing its rating on more than $500 billion of investments tied to bad mortgage loans, the ratings agency said Wednesday.
seattlepi.nwsource: S&P mulls $500B in mortgage downgrade
The massive downgrade would threaten a broad swath of the world's finance industry, S&P said, ranging from Wall Street's trading desks to regional banks to local credit unions.
&P acknowledged the potential for these downgrades to ripple throughout the world of banking and finance. Banks have already posted $90 billion in losses on these types of mortgage investments, and S&P expects losses to reach $265 billion.
Posted by dangerous trading @ 11:08 PM (157 views) Add Comment
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
No comments have been submitted.
Be the first person to add your comment by completing the form below.