Thursday, Jul 17, 2008
Q: How long does it take for a penny to drop?
BusinessWeek: How Bad Will It Get?
Now the damage is spreading. How far? Simplified, for every dollar of bank wealth lost, government-regulated commercial banks must eliminate some $10 of lending; for investment banks, the figure can be $30.
The extent of the credit contraction to come will depend on the banks' initial losses—an elusive figure, to be sure, and one that keeps growing. The latest loss tally is $400 billion across the credit markets, but the International Monetary Fund says the total could swell to $1 trillion.
Ray at Gardeniadotnet is quoted as saying, "$1 trillion? ....and the rest!"
Posted by gardeniadotnet @ 11:59 PM (238 views) Add Comment
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
No comments have been submitted.
Be the first person to add your comment by completing the form below.