Thursday, August 16, 2007

Pop!

Coventree Seeks $729 Million of Emergency Funding

Coventree Inc., Canada's biggest non- bank issuer of asset-backed commercial paper, is seeking an additional C$790 million ($729 million) of emergency funds after failing to sell any notes yesterday.

Posted by tyrellcorporation @ 12:05 PM (729 views)
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5 thoughts on “Pop!

  • why should they all be bailed out, if my company went bust, we would have to go on the dole, no-one would dream of handing us money, so why should the markets be any different.. let them crash,…..

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  • Mark if we lived in a free market these institutions would be allowed to die as a reward for their poor management but we don’t so the Polit Bureau will bail them out so that the present warped form of capitalism we have can limp on a bit longer.

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  • Fedupwithhouseprices says:

    We lost our house in the last recession with negative equity due to rising interest rates and decreased property values. Nobody bailed us out and we’re still living with the consequences today!! If they are going to be bailed out then so should we have. It wasn’t our fault there was a recession and we should have compensation for all the stress and suffering it has caused us and all the money we lost including our deposit and the capital we would have gained in our property if we’d been helped out and able to stay there, plus for all the money we’ve wasted on renting since! Oh and plus for all the alcohol we’ve drunk to drown our sorrows!

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  • voiceofreason says:

    I don’t get it.
    The reason they can’t sell these papers (i.e. get another loan) is because the other banks see them as a bad risk.
    So, does that mean that central banks are risking their “cash” by lending to them ?
    i.e. the finance industry creates this mess by mucking about with the general public’s curencies, but when the going gets tough, they scarper and leave the mess behind for the general public to pay for.

    And the story about the EU looking into credit rating agencies… they took their time didn’t they !!

    I hope that at the end of all this, maybe we will see tighter regulation of the whole finance industry and a return to having to earn money properly.

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  • david20040_0 says:

    Funny I thought Canada would have been largely unaffected.

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