One Business Week Is All It Took

• 1 min read

  • Economy
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  • Real Estate tags:
  • Economy
  • Real Estate meta: _aioseop_keywords: Economy, Subprime, Real Estate author:

    I saw this article posted on the Chairman's link roll.  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.  [via Bloomberg]

    Quite amazing when you think about it.  No?

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