I saw this article posted on the Chairman's Deli.cio.us link roll.Â It seems it took only 6 to 7 days for the asset backed commercial mortgage paper market to start collapsing.
In normal markets, JPMorgan sells $25 billion of short-term IOUs for clients daily. ``Within the span of six or seven business days, every single investor stopped buying asset-backed commercial paper tied to structured investment vehicles,'' said John Kodweis, a managing director at the New York bank.Â [via Bloomberg]
Quite amazing when you think about it.Â No?
From around the Social Web!
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