Tuesday, December 11, 2007

US sub-prime mortgage investments shook the City, again

Fears of further writedowns chill the City

Fears of further multibillion-dollar writedowns from US sub-prime mortgage investments shook the City yesterday, as UBS took an additional $10 billion (£4.9 billion) hit and analysts said that November had been the worst month yet for banks.

Posted by peter @ 11:05 AM (471 views)
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One thought on “US sub-prime mortgage investments shook the City, again

  • In 2 months $3.4bn became $13.4bn. OOops! I thought the Swiss were conservative and sensible?

    Peston’s blog contains a good article on the BBC website. It explains the UBS bail-out.

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