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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Incitatus who wrote (71787)11/28/2007 4:52:53 PM
From: mishedlo  Respond to of 116555
 
Florida School Fund Faces Bankruptcy Over ABCP
globaleconomicanalysis.blogspot.com
Florida local governments and school districts pulled $8 billion out of a state-run investment pool, or 30 percent of its assets, after learning that the money-market fund contained more than $700 million of defaulted debt. Should the withdrawals continue, Florida's pool may have to consider filing for bankruptcy protection.
Mish



To: Incitatus who wrote (71787)11/28/2007 7:02:21 PM
From: mishedlo  Respond to of 116555
 
Commercial Real Estate Market Is Imploding
globaleconomicanalysis.blogspot.com
Real estate deals are coming apart at the fastest pace since September 2001. Sales of debt secured by commercial mortgages tumbled 80 percent from a year earlier. More than 75 deals have been withdrawn because banks aren't lending. Banks also have about $283 billion of debt they provided to finance LBOs that have not been sold. This impairs lending.

Mish


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