Banks and Hedge Funds, they're so scared that they'll never, get put back together. Britain's Barclays Bank subsidiary BarCap is trying to patch together a $1 billion rescue of one of its SIVs called Mainsail II, according to the Daily Telegraph. Mainsail II is a $4.5 billion vehicle managed by hedge fund group Solent Capital, itself hard hit recently. This follows a previous $1.6 billion BarCap rescue of "SIV-lite" Cairn High-Grade Funding. So the Banks are being looted to keep up the Hedge Funds. When the real estate crashes behind the sub-prime mortgages of 2006, then the dollar itself will be pulled down.
Showing posts with label hedge funds real estate mortgages. Show all posts
Showing posts with label hedge funds real estate mortgages. Show all posts
Friday, September 7
Subscribe to:
Posts (Atom)