Posted on 27/07/07
With subprime mortgages, the contagion has already arrived
Woo hoo, as Homer Simpson would say, it's subprime all the time these days. Those two Bear Stearns hedge funds that turned securitization into Chernobylization recently have credit markets as jumpy as a cat near a bathtub. Various experts are being trotted out daily on the market TV channels to propound one way or another on the risks of "contagion," or, more of these CDO-holding hedgies imploding.
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