Free Republic 3rd Qtr 2025 Fundraising Target: $81,000 Receipts & Pledges to-date: $11,168
13%  
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  • Subprime crisis claims another German victim(Eurozone hit hard by U.S. subprime woes)

    08/07/2007 9:15:07 PM PDT · by TigerLikesRooster · 14 replies · 603+ views
    Gulf Times ^ | 08/08/07
    Subprime crisis claims another German victim Published: Wednesday, 8 August, 2007, 02:49 AM Doha Time FRANKFURT: The stricken US subprime mortgage market showed fresh potential to suck in other investors when another German asset manager froze a fund yesterday, blaming a crisis triggered by the risky US mortgages temporarily closed a 235mn-euro asset-backed securities (ABS) fund after seeing what it said was a sharp fall in its value - 2.4% - over the past week. The development is significant because it is the second fund manager to come unstuck even though it had not invested in subprime assets. The fund...