Subprimes, overconfidence

UBS on Monday became the second big investment bank in a fortnight to be bailed out by a sovereign wealth fund when it announced a SFr19.4bn ($17.2bn) recapitalisation plan after revealing another $10bn of losses on subprime mortgage securities. UBS[...]

Sheila Bair never expected to find herself in the middle of the subprime mortgage mess. Bair has spent most of her career in Washington, where she's built a solid reputation as a financial regulator, most recently as assistant secretary for financial[...]

Voldemort can only be killed once Harry finds each of these objects, known as horcruxes, and destroys them - and the act of destroying them is itself fiendishly difficult. After nearly a year of the subprime crisis, that sounds dreadfully familiar. Subprime[...]

The subprime mortgage financial crisis of 2007 was a sharp rise in home foreclosures which started in the United States during the fall of 2006 and has become a global financial crisis within a year. The root of the crisis started with lending of subprime[...]