Thursday, August 9, 2007

Another one on the ropes

BNP suspends funds after subprime shock

French bank BNP Paribas has suspended three of its funds on Thursday as problems in the US subprime mortgage sector are preventing it from calculating their value. It said the valuation of the funds would resume as soon as liquidity returned to the market and added that in the continued absence of liquidity, additional information on the envisaged measures would be communicated to investors within a month. [Poof! There goes another bundle of funny money]

Posted by dohousescrashinthewoods @ 09:20 AM (471 views)
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7 thoughts on “Another one on the ropes

  • I’d like to know when it will spread over here. Then there really will be fireworks when the first announcement is made…Soiled underwear comes to mind…

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  • Hey,

    Is there any relation between sub prime and foot and mouth? They are both catching and very virulent…

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  • It will spread globally I think. Doubt and uncertainty breed doubt and uncertainty. And the complexity of the debt instruments means that everyone could be far more exposed than they realise.

    The party is well and truly over.

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  • Maybe if we shut our eyes and hummed loudly it might go away.

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  • sold 2 rent 1 says:

    mrmickey,

    “Maybe if we shut our eyes and hummed loudly it might go away.”
    Nope. That won’t work.

    “Scotty, you need to put your fingers in your ears too and shout la-la-la-la-la-la-la.”
    “That might just work Captain.”

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  • Mr M.,

    That’s what the BOE have been doing for two terms of Mew Labour now…

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  • I am having trouble selling my clapped out twenty year old VW golf. I had assumed it was because it was worthless. I now realise it is because of a lack of liquidity.

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