Mish's Global Economic Trend Analysis Message Board

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

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To: mishedlo who wrote (71821)	11/29/2007 4:53:21 PM
From: Vitalsigns	Read Replies (2) of 116555

Mish , Not sure if you've seen news today from National Bank here in Canada (stock symbol NA on Toronto) on ABCP - they took a 25% write down on those - the most aggressive of all the banks and on an interview today on BNN ( Canada's version of CNBC) he stated that if the US goes into recession that there is likely to be more write downs . The 25% was aggressive they said but felt that it was appropriate at this time based on what they expect for next year . By doing this 25% hair cut , does National bank now create the next level Mark to Market figure for other banks to use? VS

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