December 4, 2007

German bank WestLB bails out units hit by US subprime woes (AFP)

The headquarters of German bank WestLB in Duesseldorf, western Germany. WestLB has drawn up credit lines for two troubled investment vehicles, Harrier Finance and Kestrel, a spokesman has said, as problems grow in the fallout from the US subprime home loan crisis.(AFP/DDP/File/Juergen Schwarz)AFP – The regional German bank WestLB has drawn up credit lines for two troubled investment vehicles, Harrier Finance and Kestrel, a spokesman said Tuesday, as problems grow in the fallout from the US subprime home loan crisis.

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