Vinod Kothari adds: A Deutsche Bank publication of 10th October has also gone into the ABS and CDO downgrades in the 3rd quarter. Deutsche Bank analysts say: "With over $50 billion in negative rating actions [this is for ABS and CDOs together] in the third quarter (a record we are not proud to advertise), it seems like ancient history to talk.
Earlier this week MBIA disclosed that it has a $30.6 billion exposure to collateralized debt obligations potentially tied to subprime mortgages. The CDOs include various CDO-squared securities .
NEW YORK – Citigroup’s bombshell that it faces as much as $11 billion. a flood of rating downgrades may spur liquidation of CDOs and add to selling pressure, delaying any market recovery. Rating.
Moody’s anticipates that Tyco will retire an approaching $258 million note maturity in October 2015 from internal resources. Annual revenue exceeds $10.3 billion and consists of both revenues.
LoanLogics acquires assets of Parker & Company · LoanLogics, Trevose, Pa., hired David Parker as senior vice president of product management, responsible for defining and executing the vision and direction of the company’s product portfolio. He will also be responsible for designing new products. Parker has more than 30 years’ experience with various mortgage and technology companies.
· Because, during the week of March 10, 2008, Bear Stearns had $29 billion of worthless “assets” listed on its balance sheet. Subtract that $29 billion and Bear Stearns is insolvent . Its senior executives and directors were responsible for knowing that the $29 billion had nominal value.
European and US ABS and CDO markets. Due to the complexity of the ABS market, was passed by Congress in October and immediately came into force after it was signed by President Bush. Originally, the plan provided that the government would buy up non-performing credit of USD 700 billion from financial institutions. Under part of an Act known.
Multifamily construction pushes housing starts US Housing Starts are the total number of single family houses that started construction in a given month. Housing starts can be viewed as a forward looking metric to gauge the outlook for the economy. This metric most notably crashed during the 2008-2009 housing.
US-China trade war escalation Could Knock 0.4pp Off World GDP by 2020. The imposition by the US of 25% tariffs on the remaining USD300 billion of imports from China would reduce world economic output by 0.4pp in 2020, Fitch Ratings says.
Moody’s Investors service warned today that $76 billion in U.S. commercial real estate collateralized debt obligations face possible multi-notch downgrades due to deteriorating market conditions: The breadth of the warning harkens back to similar alarms on subprime mortgages at the start of the credit crisis.