The Subprime Crisis: What Happens Next? Tonight on BLOOMBERG TV

The Subprime Crisis: What Happens Next? Tonight on BLOOMBERG TV

NEW YORK, July 18 /PRNewswire/ -- Mortgage defaults are rising and hedge fund losses are mounting, creating more uncertainty for investors already worried about the fallout from subprime lending.

Tonight at 7 p.m. ET on BLOOMBERG TELEVISION(R), Brian Sullivan hosts an hour-long primetime special report, "Subprime Shockwaves," that examines the impact of the subprime mortgage lending crisis on homeowners and home buyers as well as pension funds and the bond market.

Subprime mortgage lending -- the banking mess that's shaking the credit markets -- poses new challenges as many adjustable-rate mortgage (ARM) rates will begin to rise in September. Businesses and consumers are asking: Will mortgage defaults increase? What will happen to interest rates? Will there be a credit crunch?

Tonight's Bloomberg program will probe why no one really knows how to put a price tag on the problem and what it all means for the economy.

The BLOOMBERG TELEVISION special will feature interviews with Richard F. Syron, Chairman and CEO of Freddie Mac; James Chanos, President of Kynikos Associates; Dr. Robert J. Shiller, Chief Economist at MacroMarkets LLC and professor at Yale University; Paul A. McCulley, Fund Manager at Pacific Investment Management Co.; Kenneth L. Fisher, Chairman and CEO of Fisher Investments Inc.; James B. Lockhart, Director of the United States Office of Federal Housing; Jim Rogers, Chairman of Beeland Interests Inc.; and Dr. Marc Faber, Founder and Managing Director of Marc Faber Ltd. and publisher of the "Gloom, Boom and Doom Report."

"Subprime Shockwaves" will air tonight, Wednesday, July 18th at 7:00PM ET and repeat at 11:00PM ET.

This exclusive news and follow up reports are available to the public on BLOOMBERG TELEVISION and BLOOMBERG RADIO(R) services worldwide, as well as to users of the BLOOMBERG PROFESSIONAL(R) service. Clips from the interviews will be archived and available via the BLOOMBERG PROFESSIONAL service.

About BLOOMBERG TELEVISION The BLOOMBERG TELEVISION(R) network is the only 24-hour business and financial network, produced and distributed worldwide on 11 separate channels in seven languages. BLOOMBERG TELEVISION programming is created and supported by the global BLOOMBERG NEWS(R) service with more than 2,300 professionals in over 130 bureaus.

About Bloomberg

Bloomberg is the leading global provider of data, news and analytics. The BLOOMBERG PROFESSIONAL(R) service and Bloomberg's media services provide real- time and archived financial and market data, pricing, trading, news and communications tools in a single, integrated package to corporations, news organizations, financial and legal professionals and individuals around the world. Bloomberg's media services include the global BLOOMBERG NEWS(R) service with more than 2,300 professionals in over 130 bureaus worldwide; the BLOOMBERG TELEVISION(R) 24-hour business and financial network produced and distributed worldwide on eleven separate channels in seven languages; and BLOOMBERG RADIO(R) services which provide up-to-the-minute news on XM, Sirius and WorldSpace satellite radio around the world and on WBBR 1130AM in New York. In addition, Bloomberg publishes BLOOMBERG MARKETS(R) magazine and BLOOMBERG PRESS(R) books for investment professionals. For more information please visit http://www.bloomberg.com/.

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Source: Bloomberg

CONTACT: Heidi Tan of Bloomberg LP, +1-212-617-5375,
htan14@bloomberg.net

Web site:

http://www.bloomberg.com/

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