Subprime

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German Bank SachsenLB, Buffeted in Subprime Crisis, to Be Taken Over by Larger State Bank

By , Money Morning -

From Staff Reports Germany's Landesbank Baden-Wuerttemberg will take over SachsenLB, the smaller public-sector German bank that helped the subprime LBBW will pay $342 million as an initial measure, said Guenther Oettinger, the governor of Baden-Wuerttemberg. He said SachsenLB's owners would transfer their holdings to LBBW. SachsenLB will be part of the state-run bank in early […]

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Where are the subprime bodies buried?

By , Money Morning -

By Martin HutchinsonDirector of Global Investing Research  When the subprime mortgage crisis broke in February, I assumed (like most others) that its ill effects would be confined to obscure housing finance companies within the United States – a niche of the financial sector in which I had no interest in investing anyway. But the recent […]

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Investing With Caution During a Global Financial Crisis

By , Money Morning -

By Martin Hutchinson Chief Global Investing Strategist In the last week, a bank in Germany and another in France got themselves into deep trouble by speculating on the U.S. sub-prime mortgage market. And yesterday (Thursday), the European Central Bank was forced to inject no less than $130 billion into the world monetary system. Stock prices […]

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Housing Market Remains Rocky, But Some Bright Spots are Visible

By , Money Morning -

By Mike Caggeso Housing market investors take heed: The mortgage meltdown is heading uptown. And that has to be the most disconcerting revelation yet for investors, most of who believed that the downturn would be limited to borrowers with questionable credit histories. It started with a housing slowdown. Then it turned into a mortgage meltdown […]

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American Home Mortgage is the First Domino to fall in Non-Sub-prime Market

By , Money Morning -

By Mike Caggeso American Home Mortgage Investment Corp. (NYSE: AHM) announced Friday that it was closing its doors, heightening fears that we’ve only seen the start of the U.S. credit market shakeout. Almost 6,250 employees lost their jobs, leaving about 700 people to collect unsettled bills for the Melville, N.Y.-based lender. American Home Mortgage Investment […]

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