Thursday, September 20, 2007
These are figures taken largely before the main event too!
Bear Stearns hit by credit crisis - 61% fall in profits!
Bear Stearns' profits took a big hit from its exposure to sub-prime mortgages and the disruption to debt trading over the summer. The US bank's profits between June and August fell 61% compared with the same period last year to $171.3m (£85.4m).
Posted by tyrellcorporation @ 02:32 PM (564 views)
One thought on “These are figures taken largely before the main event too!”
Add a comment
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
alan says:
I think BS’s reputation has suffered badly. It will get worse when the next lot of defaults come along.
Bear Stearns have repeatedly said “the crisis is over”. Credit Suisse, however, think that there are several more big default waves to come, based on the bankers upping the mortgage rates on 450,000 stepped loans over the next 3 months.
You choose who you wish to believe….