Dictionary
subprime
noun
A subprime loan.
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Exact(52)
While widely shared, this was an assumption that made absolutely no sense in the case of subprime C.D.O.s.
In the summer of 2007, she was one of the first at Federal Open Market Committee [FOMC] meetings to caution that the subprime mortgage crisis would lead to a recession, while others appeared more concerned about inflation.
She has a keen eye for reading economic trends, including the subprime housing crisis.
The subprime and euro-zone crises inadvertently helped: big firms typically carry more cash than before, making them less exposed to a credit-market freeze.
After all, America's Justice Department failed to convict two Bear Stearns hedge fund managers of lying to investors about their exposure to subprime losses, despite initial expectations that the case would be easy.
It was a rare example of an economist predicting the subprime crisis.
Similar(7)
The issuance of subprime-related CDOs has plunged.
Just as the trouble in America's housing market is a drag on the economy, the turmoil in the subprime-mortgage market weighs on the currency.
But America's growth prospects are not so poor and the subprime-mortgage market not so woeful at least, not yet that they can fully explain the dollar's recent sickliness.Stephen Jen, currency economist at Morgan Stanley, suggests there might be more powerful forces driving the dollar down.
Its estimate of an $8 billion-11 billion fourth-quarter hit on its collateralised-debt obligations was made in early November, since when the market value of subprime-related debt has declined further.
The structured investment vehicles that held many subprime-mortgage assets were another.
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