(Reuters) - "As is often the case, the market's punishment of unsound financial arrangements has been swift, harsh, and without prejudice," he said.
Poole said problems in subprime mortgage markets -- which Fed Chairman Ben Bernanke said on Thursday could add up losses of $50 billion to $100 billion -- may have been unavoidable given the clash of new financial products and a cooling housing market.
Read more at Reuters.com Bonds News
Poole said problems in subprime mortgage markets -- which Fed Chairman Ben Bernanke said on Thursday could add up losses of $50 billion to $100 billion -- may have been unavoidable given the clash of new financial products and a cooling housing market.
Read more at Reuters.com Bonds News
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