2008-08-16 — smh.com.au
MORE than 100 councils, charities, churches, hospitals and nursing homes across Australia are sitting on a $2 billion black hole after buying subprime investments that were structured by Wall Street banks during the bull market but are now potentially worthless.
BusinessDay has identified more than 150 government, private and charitable institutions that purchased complex financial instruments such as collateralised debt obligations (CDOs).
source article |
permalink |
discuss |
subscribe by:
|
RSS |
email 
Comments: Be the first to add a comment
add a comment | go to forum thread
Note: Comments may take a few minutes to show up on this page. If you go to the forum thread, however, you can see them immediately.