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Thread: China State Investment Company suffers a heavy loss

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[quote=KEVIN0518,255076]On Monday, Black Stone announced that they had a quarterly loss from charges and posted a 44 percent drop in real estate revenues, missing analysts' estimates and sending its shares down more than 7 percent. Just on Nov. 12, its shares dropped about 2.2 percent. Compares with its IPO in June, its shares has shrunk about 38.2 percent.

As one of its investors, China state investment company suffers a heavy loss from Black Stone. The total loss is about 5.534 billion yuan (0.744 billion dollars). In May, the state investment company bought three billion shares of Black Stone Group. So far, it lost about 24 percent, which equals 0.744 dollars.

James, the CEO of Black Stone said:" The subprime black hole is appearing deeper, darker and scarier than they thought." He also said those investment banks expect the Fed to cut the interest rates again to help with both the subprime mortgage losses and leveraged debt backlog.

Do you think interest rates cut can really help US to shake off the adverse effect of the subprime crisis?[/quote]

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