Subprime Crises

The crises with the US subprime is reaching alarming proportions as more and more banks across the world are declaring write downs resulting from their investments in this segment. Today, UBS has declared a loss of $4Billion and is only one of several European banks impacted by the crises. American banks of course have been impacted without exception.

As an outsourcing firm, Privo (www.privocorp.com) is being impacted with loss of clients as well as delay of in taking strategic outsourcing decisions.