New Century is more likely to enter the death spiral we had feared, as filing delays, financial difficulties, likely restricted liquidity and regulatory/criminal investigations could conspire to limit its options outside of bankruptcy," Merrill Lynch analysts wrote early Monday.
As troubles continue to roil the market for subprime mortgages, New Century (NEW : new century financial corp m com disclosed late Friday that it's technically in default with several lenders and that federal regulators have begun an investigation.
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7:11pm 03/05/2007
Others like NFI (-32%) and FMT (Fremont)(-40%) took it on the chin too.
This reminds me of the Enron days, but for other reasons. I wonder if this is just the tip of the iceberg, as $2 trillion in subprime loans reset.
Edited by nimblebear, 05 March 2007 - 07:40 PM.
