Wednesday, Mar 26, 2008
Credit crunch 'at $1.2 trillion' not $120bn as we are led to believe
BBC online: Credit crunch 'at $1.2 trillion'
The credit crunch will globally cost $1.2 trillion (£600bn) according to a report from the bank Goldman Sachs.
The report says 40%, or $480bn, of those losses will hit US banks, brokerages and other institutions.
Goldman estimates that US financial firms have already reported losses of $120bn since the credit crunch began.
So where is the remaining 90%? Panic not over till it's over!!
Posted by lloyd @ 03:07 PM (162 views) Add Comment
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