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BNP Paribas Stops Pricing ABS funds August 13, 2007

Posted by newyorkscot in Markets.
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(Understatement) It really is not good when one of the major investment banks in Europe have to make announcements like this, stating that they are not able to value ABS-based securities due to “complete evaporation of liquidity in certain market segments of the US securitization market”. Scary.

When the markets took a knock last week, a few friends of mine were telling me that their companies made money by being long cash ….. novel idea.

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1. Doug - August 13, 2007

Agreed.

Marc Andreessen made this post.

Terrifying headline of the day

Bush sought to reassure jittery stock investors.

http://blog.pmarca.com/2007/08/terrifying-head.html


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