The French way of life can be as brutal and nasty as any other around the world and no amount of papering over with nice talk can avoid the facts.
Bnp paribas
Allco Finance Group…not quite all the news
A fair whack of the past fortnight’s financial market panic can be sourced to BNP Paribas. The problem wasn’t so much that this major French bank had several hundred million dollars at risk in the US sub-prime crisis, but that it took a week to fess up to it after previously assuring the market it had “absolutely negligible.” exposure.
Of Glenn Milne, biffo and Babette
The News Ltd organisation was reeling today from revelations that ace reporter Glenn Milne had visited a ‘biff club’ in the company of other journalists while drunk, writes Guy Rundle.
The subprime crisis hits Europe
Anyone who thought the subprime mortgage crisis was a problem for the markets and moneymen who created the mess, had that bit of sophistry destroyed last night when European money markets nearly froze. Glenn Dyer reports.
Morning Market Report
The highlights and lowlights of this morning’s sharemarket activity.
The Economy: Market “correction” worsens
One (or is it two?) big bank(s) ‘fessing up to financial difficulties has given the global equity market “correction” fresh downward momentum overnight.
