(Bloomberg) -- Deutsche Bank AG analyst Eugene Xu
recognized a financial train wreck in the making two years ago
when he predicted ``quite probable'' losses from the least
creditworthy home loans in America's runaway property market.
Now Germany's largest bank is poised to reap a bonanza of at
least $270 million and as much as $540 million from a strategy
that enabled its traders to sell subprime mortgage loans with
derivatives contracts that appreciated as the U.S. housing market
suffered its worst slump in 16 years.
Read more at Bloomberg Bonds News
recognized a financial train wreck in the making two years ago
when he predicted ``quite probable'' losses from the least
creditworthy home loans in America's runaway property market.
Now Germany's largest bank is poised to reap a bonanza of at
least $270 million and as much as $540 million from a strategy
that enabled its traders to sell subprime mortgage loans with
derivatives contracts that appreciated as the U.S. housing market
suffered its worst slump in 16 years.
Read more at Bloomberg Bonds News
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