The fallout (ripples? sunami?) from this is going all over the world
eg
Quote:
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TOKYO, Nov 9 (Reuters) - Japan's Mizuho Securities, the unlisted brokerage arm of Mizuho Financial Group (8411.T: Quote, Profile, Research), may have suffered as much as 100 billion yen ($889 million) in subprime-related losses, causing a delay in its planned merger with Shinko Securities Co Ltd (8606.T: Quote, Profile, Research), the Nikkei newspaper said on Friday.
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Mizuho Sec may see 100 bln subprime loss -paper | Reuters
Quote:
Barclays shares slump on credit worries
Barclays Capital boss Bob Diamond may need to show the bank's balance sheet.
£77.5m 'golden goodbye' for Merrill chief
Bond insurers may trigger new panic
The music has well and truly stopped
Le Crunch is by no means over
Master of the universe falls back to earth
How Citi failed to keep the crisis at bay
Fed will cut rates to 4pc if necessary
O'Neal trampled underfoot by credit crisis
Dollar weakness not a storm in a tasse de thé
Ian Cowie: The greenback wilts
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Above are all links to stories in the British Telegraph HERE:-
Subprime - Telegraph
A lot of US articles here (life is too short)
FT.com / In depth / Global credit squeeze
and
Reports from the front seem a little slow to come in (I guess this gives the Directors time to sell their shares first?)
Quote:
AIG, Morgan Stanley latest to face subprime heat
Sponsored by:
MS 53.68, +2.49, +4.9%) was also in focus after the investment bank late Wednesday said it was taking a new $3.7 billion hit to account for exposure to subprime-mortgage securities. The company said it had $12.3 billion of subprime-related exposure on its balance sheet at the end of August. See related story.
. . . Some analysts said the company's exposure to subprime was manageable and, at the least, provides more transparency.
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How is 12 billion manageable? That is an awful lot of money
for AIG it was a mere 2.45 Bil
