Archive for November 13th, 2007
When US$330 million of subprime becomes US$1.7 billion at CIBC
13 November 2007The news could have been so much worse for CIBC (CM:TSX), but an anticipated windfall from the VISA initial public offering dampened any earnings damage that might have come CIBC’s way with the recent revelation that there are more subprime snakes in their bag than were acknowledged earlier. Putting the VISA lift (even if [...]