Via Big Picture the
Financial Times has an interactive map which charts the winners and losers of the
subprime credit crunch. The three red dots on the Australian continent are Macquarie Bank, Absolute Capital and Basis Capital (Hedge fund).
It is not really surprising that there are issues around subprime lending as it is a high risk area by definition. Subprime are borrowers that do not qualify for market interest rates or have bad credit history.
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