Friday, October 19, 2007

Subprime Cries Fire In A Crowded Stockmarket.

Whoops! I guess 50 basis points didn't cure years of abuse of sensible lending standards despite what Jim Cramer says.
Oct. 19 (Bloomberg) -- Cheyne Finance Plc and IKB Deutsche Industriebank AG's Rhinebridge Plc, two structured investment vehicles that bought securities backed by home loans, defaulted on more than $7 billion of debt as the value of their holdings fell.

Chart also courtesy of Bloomberg.

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