How turmoil melted a money fund: mortgage problems hit a Credit Suisse vehicle; its assets, yields slide

Article Abstract:

Credit Suisse Institutional Money Market Prime Fund, a vehicle of Credit Suisse Group, has dropped to $10 bil from a July 2007 high of $25.5 bil, due primarily to mortgage-backed securities that became vulnerable to the current credit crisis. The firm had used portals, or computer-based money market fund listings, to draw high yields. Investment losses for Credit Suisse Group have exceeded $100 mil.

Economic aspects, International aspects, Influence, Credit Suisse Group, Mortgage-backed securities, Mortgage backed securities, CSGN, Subprime loans

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U.S. banks vie for big postwar roles

Article Abstract:

U.S.-based banks are positioning themselves for a highly-profitable role in reconstructing postwar Iraq's finanicial system. Citigroup, Bank of America, and J.P. Morgan have expressed interest in reconstructing the Iraqi financial system.

United States, Banking Institutions, Iraq, Banking industry, Banks (Finance), Citigroup Inc., C, BankAmerica Corp., J.P. Morgan and Company Inc., JPM, Company business planning, BAC

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Zurich might acquire partner for Scudder Investment unit

Article Abstract:

Zurich Financial Services Group is seeking a partner that will merge with its Zurich Scudder Investments unit. Scudder has seen major funding outflows in its business.

Switzerland, Money Management Accts & Svcs, Zurich Financial Services, Asset management accounts, Zurich Scudder Investments Inc.

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