Understanding CIBC's Subprime Mortgage Exposure

The Globe and Mail, Fabrice Taylor, 18 July 2007CIBC is having trouble assuaging investors who fear yet another cock-up from the accident-prone bank.This time it's over its dealings in the U.S. subprime market. Media reports, leaning heavily on hedge fund managers, suggest the bank is whistling its way to a massive haircut on some investments in collateralized debt obligations (CDOs).Nonsense,