Financial Times Escreveu:Credit crunch
Published: August 8 2007 16:05 | Last updated: August 13 2007 17:40
The FT’s exclusive interactive map charts how and when many of the financial players affected by the crisis in the US subprime mortgage markets and the consequent turmoil in credit markets worldwide either made their killing or lost their shirts.
Winners and losers from the subprime and credit markets turmoil range from risk-hungry hedge funds to safe and boring-looking cash funds for retail investors; from high-street specialist mortgage companies to some of the world’s biggest investment banks; and from ordinary corporate borrowers to highly leveraged private-equity backed buy-out deals.
Since the smart money began using new derivatives indices to bet against the subprime market in earnest near the start of the year, concerns over lending standards have spread from mortgages to corporate debt.
From a world where most market participants carried similar exposures and were betting the same direction, the withdrawal of liquidity, or cash, from the system has been rapid and dramatic and has been the biggest single contributor to the wild girations the debt markets have suffered in the summer of 2007.
Enviado: 15/8/2007 19:04