Market Movers (Free subscription) | 08/05/2008
Michael de la Merced got a timely interview with BlackRock's Laurence Fink this week, and the resulting story is well worth reading. But one question is not cleared up: what does this mean, exactly, on the subject of the $15 billion of subprime paper that BlackRock is buying from UBS? Mr Fink is being cautious, demanding a 15pc return on the assets or UBS will have to take further writedowns, but...
The Telegraph (Free subscription) | 07/05/2008
Purchase of $15bn of sub-prime mortgage debt from UBS 'could suggest a low point' in the crisis, reports Philip Aldrick
FelixSalmon.com (Free subscription) | 08/05/2008
Michael de la Merced got a timely interview with BlackRock's Laurence Fink this week, and the resulting story is well worth reading. But one question is not cleared up: what does this mean, exactly, on the subject of the $15 billion of subprime paper that BlackRock is buying from UBS? Mr Fink is being cautious, demanding a 15pc return on the assets or UBS will have to take further writedowns, but the...
