More Bad News On SIVs

Posted: November 15, 2007 at 2:07 pm

Bloomberg writes: "The net asset value of structured investment vehicles, companies that borrow short term to buy higher yielding securities, has fallen to 69.7 percent as the credit slump erodes their holdings, Fitch Ratings reported."

"SIVs have been forced to sell about $75 billion of investments since July as record U.S. home foreclosures caused investors to withdraw from asset-backed commercial paper."

Douglas A. McIntyre

Read more: Financial Stocks
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