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Credit markets still tight as stocks plunge
http://news.yahoo.com/s/ap/20081006/ap_on_bi_ge/credit_markets
By MADLEN READ, AP Business Writer Mon Oct 6, 6:23 PM ET
NEW YORK - “The jammed credit markets barely budged Monday as governments around the world scrambled to prop up their failing banks and investors waited for details on how, exactly, the Treasury will go about buying $700 billion of U.S. banks' mortgage.”
“If lending remains tight, it could cause more cash flow problems for the companies and municipalities that rely on the credit markets and banks for short-term loans.”
"It's hard to exaggerate how bad things are.” “Things are still profoundly dislocated, said
T.J. Marta, fixed-income analyst at RBC Capital Markets.”
By MADLEN READ, AP Business Writer Mon Oct 6, 6:23 PM ET
NEW YORK - “The jammed credit markets barely budged Monday as governments around the world scrambled to prop up their failing banks and investors waited for details on how, exactly, the Treasury will go about buying $700 billion of U.S. banks' mortgage.”
“If lending remains tight, it could cause more cash flow problems for the companies and municipalities that rely on the credit markets and banks for short-term loans.”
"It's hard to exaggerate how bad things are.” “Things are still profoundly dislocated, said
T.J. Marta, fixed-income analyst at RBC Capital Markets.”
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