Banking crisis will be much worse
Bob Morris @ Jul 7th 2008 10:17 - Category: Credit crisis
This is the new Much Worse.
As contrasted with previous upward revisions in the amount of money that banks will be losing, which were a mere $400 billion or so, the new number is $1.6 trillion. This from a “confidential study by the second largest hedge fund in the world.”
In related news, Swiss regulators may require their banks to raise $68 billion.
So, what happens when major banks worldwide start cratering? Just wondering…
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