Where the dollar’s decline is taking the world
Story date: 2007-11-22 01:16:00
Added on: 2007-11-22 22:50:15
Financial Times - Wall Street has produced a credit crisis for banks by securitising more than $900bn (€606bn) of subprime mortgage loans. The ultimate default rate on these loans could rise as high as 20-25 per cent, so there is $200bn-$250bn of bad paper now ...
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