Tuesday, April 24, 2007

Cost of US Sub-Prime

Subprime Bondholders May Lose $75 Billion in U.S. Housing Slump

Bond investors who financed the U.S. housing boom are starting to pay the price for slumping home values and record delinquencies in subprime loans. They will lose as much as $75BN securities made up of millions of mortgages to people with poor credit, says PIMCO.

Posted by nearly30 @ 11:58 AM (544 views)
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One thought on “Cost of US Sub-Prime

  • “More than $6 trillion of mortgage bonds are outstanding, dwarfing the amount of U.S. government debt by about 50 percent.”

    “The economic risk, the macro risk — I don’t see it posing a serious problem,” U.S. Treasury Secretary Henry Paulson said after a speech in New York on April 20 in response to questions on the collapse of the subprime mortgage market.

    OH this this is not a serious problem ?????????? CRASH !!!!!!!!!!!!!

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