Cerberus Invests$1 Bln In CIBC Subprime Mortgages
Cerberus Capital Management is investing $1.05 billion in the subprime mortgage portfolio of Canadian Imperial Bank of Commerce. CIBC, which reportedly had been in talks with four other investors, said it wanted to limit its exposure to the subprime market after taking C$6.8 billion ($6.167 billion) in write-downs ...
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