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1.Market Observations, 5.Troubled companies, 8.Was Sticky

8 Aug 2017 (AFR) – Banks still paying for GFC – Rack up $US150b in US fines since start of the financial crisis

(8 August 2017, AFR, p29, by Kara Scannell)

‘Financial institutions have paid more than $US150 billion ($189 billion) in fines in the US relating to the credit crisis, passing a significant milestone a decade after it became clear that the country’s subprime woes had become a global problem. Ten years ago this week, France’s BNP Paribas barred investors from accessing money in funds with subprime mortgage exposure, citing a “complete evaporation of liquidity”. The date – August 9, 2007 – is pegged by many as the moment the financial crisis began.’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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