Knowledge at Wharton The Subprime Drama Continues but for How Long?
Nov 28, 2007
28:50
Almost every day a new twist seems to appear in the subprime crisis drama. This week the investment arm of the government of Abu Dhabi announced an infusion of $7.5 billion to acquire a 4.9% stake in Citigroup which has been slammed by enormous losses in the credit market. The announcement came on the heels of a report from Bank of America that the subprime mess is about to get messier as interest rates ”reset” -- or rise -- on more than $360 billion worth of adjustable rate subprime mortgages. Has the crisis run its course? Knowledge at Wharton asked that question and several more to Richard Herring a Wharton finance professor and co-director of the Wharton Financial Institutions Center.
Hosted on Acast. See acast.com/privacy for more information.