GREY:XEPRF - Post by User
Comment by
lawnmoredanon Sep 11, 2007 3:15pm
309 Views
Post# 13375552
RE: Today''''s action
RE: Today''''s actionfunny how fast the tune changes. My tune has not changed.I said unsafe conditions for US.markets exist near term, and "high risk" is apparent on more then one front.The US.Commerical Paper Market is now down for the 5th week in a row some 20% with a huge pile of papper coming due in the "Near Term".All this on top of the notorious subprime problems.LONDON -- It is crunch time for many of the world's biggest banks as they grapple with one of the tightest credit markets of recent memory.
About $120-billion (U.S.) of commercial paper issued outside the U.S. is due for renewal over the next week, including $56.5-billion of asset-backed paper, which has encountered the most difficulty in winning investors. Issuers need to find buyers to roll over these short-term-funding mechanisms or pay off the loans. So banks and other issuers are pulling out all stops to lure investors back. In the meantime, they are using short-term moves to raise cash to keep them going.All this is a good enough reason not to rush out spending ca$h like a fool.You can take this out of context all you want.LOL!