ASSESSMENTS
The U.S. Subprime Crisis and the Pain to Come
Aug 10, 2007 | 20:02 GMT
Summary
Fears of U.S. subprime instability have sparked a rash of panic-selling globally, with the worst impacts by far in Europe. The damage has concentrated on all things European for a number of reasons. Plenty of pain — both American and European — is yet ahead in the weeks and years to come.