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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: Incitatus who wrote (71594)11/23/2007 6:23:36 PM
From: mishedlo  Read Replies (1) of 116555
 
£53Billion Hole In Northern Rock
globaleconomicanalysis.blogspot.com
An investigation into Northern Rock shows £53bn of mortgages is owned by an off shore company. The BOE can most likely kiss £11bn of the £23bn it lent Northern Rock goodbye. Kazakhstan setup a $4bn fund because of credit losses related to US subprime mortgages. In Japan, banks suffer 230 bln yen in losses. Japan is likely understating the losses.
Mish
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