Good morning. Did someone say credit cockroach? The Wall Street Journal reports that BlackRock and a group of other lenders have lost $500bn to a “breathtaking” accounts receivable fraud. This just a few days after BNP Paribas reported a €190mn “credit event,” also involving fraud. Email us with the name of a good exterminator: unhedged@ft.com
And don’t forget: the New York edition of Alphaville’s Pub Quiz is on November 11! Unhedged will be there, along with every other self-respecting finance nerd in our great city! It will be fun! Details here.
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