Well, on the IT side, yes

It's the sub-prime mortgages that are f**king everything in the US (in the UK too, but I forget what they call them). Essentially it's a fraud perpetrated by mortgage brokers selling to anyone, product developers attempting to hide the junk in CDOs and analysts vastly-overrating the derived bonds. Amazing (or perhaps not...) that experienced traders fell for it. And the Fed and ECB pump (our) money into the so-called free market!

It could go very bad for some very large institutions...

Posted By: BerlinCanary on August 22nd 2007 at 22:13:40

Message Thread

Booooooooooooooooooooooooooooooo (General Chat) - Stoopish, Aug 22, 21:59:16
- You still writing for that Finance rag? (General Chat) - BerlinCanary, Aug 22, 22:01:29
  - Tis indeed, and I am, but not for the derivatives one (General Chat) - Stoopish, Aug 22, 22:04:59
    - Well, on the IT side, yes (General Chat) - BerlinCanary, Aug 22, 22:13:40
      - already is! (General Chat) - Stoopish, Aug 22, 22:20:54
        
        Yes, I should pay the options desk a visit... (General Chat) - BerlinCanary, Aug 22, 22:34:59
        
        heard something about £300m being lent to an institution (General Chat) - Commisar_Canary, Aug 23, 01:12:25
        
        Not a clue... (General Chat) - Stoopish, Aug 22, 22:38:36
        
        Well, Barclays are big in the CDO market (General Chat) - BerlinCanary, Aug 22, 22:52:46

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