CREDIT CRASH
For a while it looked like JP Morgan had escaped the worst effects of the credit crash but hat first quarter profit fell by half, showing how credit troubles in subprime home loans are now spreading to other types of consumer and business debt.
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Bury
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Bury
Credit crash is a social news site for the credit markets
Nothing surprising here, plenty more losses to come for financials....Ambac covers $556bn in municipal and asset-backed securities, hardly...I always check credit ratings before I make a decision...This won't tackle the lack of deals or reluctance of lenders to refinance...At least Bernanke was clear about what they believed - even if they're...Fed sees more risk to the downside BUT doesn't realize that there's enough...Writedowns are MORE than $18 billion. In the release they reveal U.S....Dont see how they were all owned by the "elites", anyway dont...
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Nothing surprising here, plenty more losses to come for financials.