WaMu swap sellers sidestep big loss
Investors who wagered that Washington Mutual would somehow survive the latest market turmoil will have to pay far less than some had feared. According to the final results of an auction of complex financial instruments called credit default swaps held Thursday, banks and other investors who sold these insurance-like products will have to pay 43 cents on the dollar to investors who bet that WaMu would default on its debt, according to Creditfixings.com....
10/23/2008 12:00:00 PM
News & Issues - Business/Financial News
|
