Subprime fallout continues
The Financial Times reports that Edward Cahill, a senior member of Barclay’s structured finance team, has resigned in the wake of the US subprime mortgage meltdown.
Cahill was responsible for running the collateralised debt obligation division, which deals with assets including subprime loans.
Moody’s has described the ongoing liquidity squeeze as the “tightest we have ever observed.”
Meanwhile, further product recalls have been announced by Mattel. The Financial Times reports that the Chinese government has blamed changes in international safety standards, not local manufacturing for the recall, which now stands in excess of 18.2m toys.
