MoneyGram’s shock subprime loss

Discussion in 'Wall St. News' started by ASusilovic, Oct 15, 2007.

  1. MoneyGram international is expected to show about $200m in losses on investments in complex debt securities when it reports its Q2’s on Wednesday. Shocking because the company is no bank or risky investment fund, but a wire transfer service trusted by ordinary people around the world with billions of dollars not made as deposits. The company funds a near-$6bn long-term investment portfolio with cash it holds on behalf of customers for between five and 10 days.