Quoting the Crisis18/09/2009
“ As of last week, the ABX index of sub-prime mortgage debt showed that AAA-rated securities from early 2007 were trading at 28 cents on the dollar – AA was at 4 cents, near all-time lows. No one can say that $2 trillion (£1.2 trillion) of sub-prime and Alt-A debt is still trading at panic levels, exaggerating losses. The dust has settled. What we can see is that creditors will never recoup their money. „
Ambrose Evans-Pritchard in Lehman is a footnote in the great East-West globalisation crisis - Telegraph
Quote posted at 19:42
