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View Full Version : US Banks buying up their own debts?


Rubber Duck
15th October 2007, 08:08 AM
US Banks are clubbing together to buy up Sub-Prime Debt to stop erosion of their own balance sheet valuations.

Should this instill confidence as they would wish or just make the rest of us really start panicking. To me it sounds like more of the smoke and mirrors routine that caused the problem in the first place.

Perhaps a belated effort to address the massive twin deficits might be something that the Bush Adminstration should consider. Failing that they could just start another major conflict somewhere, to distract the voters attention.

http://news.bbc.co.uk/1/hi/business/7044525.stm