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Thanks Subprime: Nomura reports 1st loss in 18 quarters

0 Comments Published October 28th, 2007 in Banks, Markets.

Japan’s largest securities firm reported its first loss in 18 quarters, or 4.5 years, thanks, in part to the problems in the US subprime mortgage market.  Their net loss was $92 million compared to income of nearly $400 million a year ago.  Nomura is already down some 18 percent this year underperforming the Topix significantly.  Nomura is currently focusing its investment strategy in Asia.

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« Bank of England Warns: We’re Still Vulnerable to New Shocks
6X More Subprime Losses for Mitsubishi UFJ Financial Group »
This blog discusses subprime mortgage problems. Subprime problems began when lenders offered loans to potential home owners with bad credit or credit / income that did not meet the standards of traditional lending. Subprime mortgages for people with bad credit or no credit face an uncertain future. Once the hope of many to enter into home ownership has now been corrupted both by overreaching consumers and predatory lenders. I hope to follow the aftermath of this crisis.

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