Fred Sandsmark's Blog

According to an article in the New York Times, the subprime mortgage mess -- through its financial fallout -- is hurting some small Norwegian towns. The article quotes Karen Margrethe Kuvaas, mayor of Narvik,

... where the season’s perpetual gloom deepened even further in recent days after news that the town -- along with three other Norwegian municipalities -- had lost about $64 million, and potentially much more, in complex securities investments that went sour.

It really is a small world.

Labels: Norway