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Article: 'Nobody Immune' As Analysts Tally Market's Effects On Portfolios, Options.
- Article from:
- Banking Wire
- Article date:
- November 5, 2008
- Author:
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WALL STREET -- Last week's earthquake in the financial markets was being felt throughout the credit union industry, as gyrating rates and a variety of holdings were delivering a major shock to balance sheets all over the country.
"Look, nobody is immune to this," said Jeff Post, CUNA Mutual Group CEO, who was tallying the affects of the turmoil on his company's $8-billion investment portfolio.
Last week's bankruptcy of Lehman Brothers Holdings and the takeover of insurance giant American International Group, following closely on the heels of the federal takeover of Fannie Mae and Freddie Mac, sent the markets in a steep free fall, the likes of which ...