Article

2007-09-12 Home Front Economy

US Treasury Secty: no quick end to credit market turmoil

Archived material is restricted to Rantburg regulars and members. If you need access email fred.pruitt=at=gmail.com with your nick to be added to the members list. There is no charge to join Rantburg as a member.

Posted by lotp 2007-09-12 00:00|| || Front Page|| [1 views ] Top

Paulson said he had met daily with bankers trying to value asset-backed commercial paper and other products.

When they are confident they understand the products, confidence will return, he said.
No one seems to understand these products, so bankers will just have to fake it.

Posted by Anguper Hupomosing9418 2007-09-12 01:08|| 2007-09-12 01:08|| Front Page Top

#2 Think of it as a solvency crisis, rather than a credit crunch.

The loan collateral just doesn't cover the loan any more. Therefore risk is much higher.

Posted by Bright Pebbles 2007-09-12 18:48|| 2007-09-12 18:48|| Front Page Top

23:57 BigEd
23:43 Sock Puppet of Doom
23:42 JosephMendiola
23:41 Sock Puppet of Doom
23:39 Red Dawg
23:38 Anonymoose
23:36 Sock Puppet of Doom
23:36 Abdominal Snowman
23:33 JosephMendiola
23:31 JosephMendiola
23:29 trailing wife
23:25 Abdominal Snowman
23:24 JosephMendiola
23:23 Zenster
23:19 Zhang Fei
23:18 BA
23:15 Zenster
23:12 Mike
23:11 Zenster
23:11 BA
23:07 Zenster
23:07 JosephMendiola
23:01 Zenster
22:54 BA