• Most Popular
  • Most Shared

Blackstone COO: No clear picture on mortgage hole

NEW YORK
Mon Nov 12, 2007 2:26pm EST

Stocks

   
A foreclosed house for sale is pictured in the Green Valley Ranch development in Denver, July 26, 2007. Blackstone Group President and Chief Operating Officer Hamilton James said on Monday bank executives don't have a clear picture of how the mortgage ''black hole'' would play out. REUTERS/Rick Wilking

NEW YORK (Reuters) - Blackstone Group (BX.N) President and Chief Operating Officer Hamilton James said on Monday bank executives don't have a clear picture of how the mortgage "black hole" would play out.

Stocks  |  Hot Stocks  |  Bonds  |  Funds News

James, who was speaking on a conference call to analysts after announcing quarterly results, added that only 15 percent to 20 percent of bank losses were related to leverage finance, with the remainder being mortgage related.

(Reporting by Michael Flaherty and Megan Davies, editing by Mark Porter)
Stocks
Hot Stocks
Bonds
Funds News


More from Reuters

Photo

Obama says U.S. will pursue plane attackers

KAILUA, Hawaii (Reuters) - A wing of al Qaeda claimed responsibility on Monday for a failed Christmas Day attack on a U.S.-bound passenger plane, and President Barack Obama vowed to bring "every element" of U.S. power against those who threaten Americans' safety. | Video

» More Top News
Passengers pass security notices as they approach the departure gates at Gatwick Airport, in southern England December 28, 2009. REUTERS/Luke MacGregor

Travelers met with hassles

The U.S. is stepping up airline security measures following the Christmas bomb scare. Here's what you can expect.  Full Article | Video 

U.S.
Iranian protesters take a policeman away to a safe place after he was beaten by angry protesters during fierce clashes in central Tehran December 27, 2009. Credit: REUTERS/Stringer

Deaths, arrests in Iran

Is Iran's "iron fist of brutality" a new volatile phase aimed at crushing the refomist movement?  Full Article | Video 

World