Friday, January 25, 2008

The sub-prime discosures are far from over

Banks 'face a further $300bn sub-prime hit'

"While governments, central banks and regulators scramble to address the aftermath of the sub-prime fallout, several other crises are mounting." Tumbling property prices - especially in the UK and Spain - a weakening dollar, a possible collapse in commodity prices, and a fall in Chinese and Indian stocks will "disrupt" the global economy, the report claimed. Add to this the earleir blog on massive mortgage lending contractions ... Land Registry figures for the next few months ought to be good reading.

Posted by growler @ 11:13 AM (812 views)
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5 thoughts on “The sub-prime discosures are far from over

  • Times? The Times would never print a story like this. You mean the Telegraph. The Times is far more interested in peddling the line “everything is not as bad as it looks”.

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  • converted lurker says:

    $300bl looks cheap, that can be ‘contained’ IMHO. It’s the other mega trillion that has ‘nowt to do with our old distraction – sub prime mortgage lending, where the real carnage lies surely?

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  • so now is not a good time to buy bank shares then??? lol

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  • Before long the land registry figures will no longer be statistically significant as transaction volumes fall to incredibly low levels. The effect on prices will be mixed and volatile

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  • @Paul: woops. you are right. But there’s a nice article in The Times I’ve just posted about. I can’t really argue with a verbatim quote from Gordon..

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