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BNP Paribas Freezes Three Investment Funds |
HenryTo
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Joined: 06 Aug 2004
Posts: 11723
Location: Los Angeles, California
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 Posted: Thu Aug 09, 2007 5:05 am Post subject: BNP Paribas Freezes Three Investment Funds |
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Subprime crisis spreads to Europe. This partially confirms that the bulk of these CDOs were bought by European and Asian investors:
http://www.bloomberg.com/apps/news?pid=20601103&refer=us&sid=aIsg6vAT_8.k
Not a surprise at all - as US investors have always had a history of getting out before foreign investors do - only to buy back in at lower prices. This was true in the 19th century, the 20th century, and now looking to be true in the 21st century as well. |
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BNP Paribas Freezes Three Investment Funds Replies |
rffrydr
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Joined: 30 Oct 2005
Posts: 16929
Location: Sunny California
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| Posted: Thu Aug 09, 2007 6:28 am Post subject: |
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It's AA. If that's not the CDO Moody's brand then, once again, it's not "subprime." They did the sensible thing:
| Quote: | The complete evaporation of liquidity in certain market segments of the US securitisation market has made it impossible to value certain assets fairly regardless of their quality or credit rating, the bank said.
In order to protect the interests and ensure the equal treatment of our investors, during these exceptional times, BNP Paribas Investment Partners has decided to temporarily suspend the calculation of the net asset value as well as subscriptions/redemptions, in strict compliance with regulations, for these funds, it added.
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