Wednesday, July 25, 2007

US subprime mortgage collapse is spreading to wider markets

The subprime crisis hits the mainstream

The latest market slump has come about because one of the big US lenders finally confirmed we’re no longer looking at just a subprime crisis. We‘re looking at a crisis, full-stop…

Posted by damien @ 11:00 AM (527 views)
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One thought on “US subprime mortgage collapse is spreading to wider markets

  • There is no such thing as subprime. It’s ALL subprime.

    A trader who earns GBP200,000 per year (on a good year) defaulting on her/his £1.2m mortgage has nothing to do with Britney Trailer trash not pulling enough tricks to keep up with the mortgage – except that greed got them both there.

    We need to extend subprime to mean any leveraged loan over 4 times average PROVABLE earnings for the last 5 years.

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