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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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From: ldo79	9/27/2007 12:38:35 PM
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A senior Russian banker warned on Wednesday of debt defaults as the liquidity squeeze in Russia tightened following the global credit crunch and interbank lending rates climbing to a two-year high. “If debt markets remain closed until the end of the year the situation is going to get very difficult for many banks,” said Oleg Vyugin, chairman of privately owned MDM Bank and former head of Russia’s financial markets regulator. “There could be some defaults. The Russian rouble bond market is not working.” tinyurl.com

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