[movermike] movermike: Sub-Prime Woes And More...

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Posted by movermike:
Sub-Prime Woes And More...
http://www.movermike.com/posts/1187107823.shtml


   From the [1]WSJ:

     CNBC reported that [2]Sentinel Management Group, a money market
     mutual-fund firm for commodities, had asked to halt investor
     redemptions, suggesting its investors were in a "panic."

   One of the possible benefits of a lower USD?

     The U.S. trade deficit narrowed unexpectedly by 1.7% in June to
     $58.1 billion, the Commerce Department said Tuesday. This is the
     lowest trade gap since February. The trade deficit was below the
     consensus forecast of Wall Street economists of a deficit of $61.3
     billion.

   Also from CNBC:

     ...Sanford C. Bernstein said Citigroup (C) could suffer as much as
     $3 billion in losses from credit turmoil in the third quarter.
     (Analysts at Sanford Bernstein said Tuesday that they estimate
     Citigroup, the nation's largest bank, could face credit-related
     losses of up to $3 billion in the third quarter. [3]Bernstein
     analysts Michael Howard and Howard Mason said Citi likely has
     exposure of $1.2 billion to $1.5 billion from loan exposure for
     leveraged buyouts; the largest risk. The two estimated Citi's
     exposure to the subprime mortgage crisis at $500 million to $1
     billion, and its money in danger from structured products at zero
     to $700 million)

     And [4]Fortress Investment Group (FIG) became the latest hedge fund
     to disclose problems, posting a wider loss for the second quarter.

   [5]Sentinel Management Group [6]U.S. trade deficit [7]Citigroup (C)
   [8]Fortress Investment Group (FIG) [9]Mortgages [10]Mover Mike

References

   1. http://online.wsj.com/article/SB118708771811697106.html?mod=hps_us_whats_news
   2. http://www.cnbc.com/id/20260301
   3. http://www.marketwatch.com/News/Story/Story.aspx?guid=%7bC0A8BFCF-3ED7-443E-8B80-098B7F1C74F1%7d&siteid=yhoo&dist=yhoo
   4. http://www.forbes.com/markets/2007/08/14/fortress-compensation-taxes-markets-equity-cx_af_0814markets13.html
   5. http://technorati.com/tag/Sentinel+Management+Group
   6. http://technorati.com/tag/U.S.+trade+deficit
   7. http://technorati.com/tag/Citigroup+(C)
   8. http://technorati.com/tag/Fortress+Investment+Group+(FIG)
   9. http://technorati.com/tag/Mortgages
  10. http://technorati.com/tag/Mover+Mike