(Reuters) - Analysts say GE and CIT Group Inc. probably will get
far less for their respective subprime franchises than those
sold less than a year ago. The value of subprime assets have
tanked amid a rising wave of delinquencies and defaults on
loans to people with weak credit.
In contrast, Cleveland, Ohio's National City Corp.
looks pretty smart for locking up a deal for its First Franklin
Financial subprime franchise. Merrill Lynch & Co. Inc.
agreed in September to pay $1.3 billion for First Franklin.
Read more at Reuters.com Bonds News
far less for their respective subprime franchises than those
sold less than a year ago. The value of subprime assets have
tanked amid a rising wave of delinquencies and defaults on
loans to people with weak credit.
In contrast, Cleveland, Ohio's National City Corp.
looks pretty smart for locking up a deal for its First Franklin
Financial subprime franchise. Merrill Lynch & Co. Inc.
agreed in September to pay $1.3 billion for First Franklin.
Read more at Reuters.com Bonds News
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