Monday, Jul 28, 2008
An interesting article for our techie's
Naked Capitalism: Has Deleveraging Even Begun? (Not For the Fainthearted)
It no doubt seems absurd to question the idea that deleveraging in underway. We've had three heroic central bank interventions, starting in August 2007, to reverse seize-ups in the money markets. The asset backed commercial paper market has been almost in run-off mode. Leveraged buyout loans have been scarce to non-existent. Banks have cut home equity credit lines and credit card borrowing limits. Commercial and industrial loans have fallen. The private mortgage securitization market is a shadow of its former self.
Posted by stevie dee @ 07:33 PM (140 views) Add Comment
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