Thursday, January 10, 2008

Australian banks’ investment in the US mortgage provider was a questionable strategy. “They have plenty of exposure to mortgages. Why would you need to get more exposure to mortgages in another country?” he said.

Investors drive down banks on mortgage exposure

THE four big Australian banks' $1 billion exposure to the ailing US mortgage provider Countrywide Financial weighed on bank stocks yesterday, as the US subprime crisis continued to rattle domestic investors.

Posted by chris @ 07:51 PM (379 views)
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