Subprime Contagion Contained

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 |  Includes: CFC, NEWC.PK
by: Greg Newton

Goldman Sachs (NYSE:GS) is the single largest creditor of New Century (PINK:NEWC.PK), which filed Chapter 11 Monday. Also in the Top 10: Credit Suisse (NYSE:CS) (2), Morgan Stanley (NYSE:MS) (4), Deutsche Bank (NYSE:DB) (6), Bank of America (NYSE:BAC) (7), UBS (NYSE:UBS) (8), Lehman Bros (LEH) (9) and Countrywide Financial (CFC) (Mozilo Stock Sales Inc.) (10).

In an entirely unrelated development, Goldman Sachs’ Kathleen Brown quit the board of Countrywide Financial (Mozilo Stock Sales Inc.) last Friday, just two years before her term expired.

Tug o’ the forelock to Minyanville.