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...“Trust was shaken today,” Deutsche Bank chief european economist Thomas Mayer told the New York Times. As one executive of a major global bank said later, “It was something none of us had experienced....
...Countrywide Home Loans Servicing LP, et al is ostensibly brought on behalf of a class of purchasers of certain mortgage pass-through certificates for which CWALT, Inc. and various issuing trusts filed registration...
...It had been more than three months since HSBC became the first big global bank to reveal multi-billion-dollar losses on subprime mortgage loans....
...UBS’s current losses were triggered by the meltdown in the US subprime mortgage market. But the seeds of the bank’s downfall were sown a decade earlier....
...It went from a passive priesthood, policing the world’s financial markets, to evangelising for them, particularly in regard to structured finance – that is, banks’ repackaging of risky loans through ever...
...Byron Shoulton, New York Francisco Rodriguez: I think the threat of non-repayment is a serious one....
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