Monday, January 21, 2008

Bank of China May Report U.S. Mortgage Write-Downs

From the WSJ: Bank of China May Report Subprime-Related Write-Down
Analysts estimate that state-owned Bank of China ... may have to write off a fourth of the nearly $8 billion it holds in securities backed by U.S. subprime mortgages ...
More containment.

It looks like the stock market are in for more fun too: U.S. stock futures point to major decline on re-open