Late breaking news
SOVEREIGN WEALTH FUNDS: Funds owned by foreign governments flush with money–China, Russia, the oil-rich Arab states–are now a major player in the world’s financial markets. Merrill Lynch & Co., facing steep losses from mortgage-related investments, said Monday it will receive a cash infusion of up to $6.2 billion from Singapore’s Temasek Holdings and U.S. money manager Davis … In response to the soaring number of foreclosures, Lt. Gov. John Carney is asking for nearly $1 million to boost some of the state’s assistance programs. We’ve become awash in sad tales about downtrodden families being forced from their homes by interest rate resets resulting from adjustable-rate, subprime mortgages. If you thought you understood how your credit score works, think again. The rules are changing. In 2005, Seth Klarman of Baupost Capital warned a group of Wharton business school students that a new class of “value pretenders” had emerged.
Monday ~ December 12, 2007 by iberianseo Posted in General |
