Monday, Apr 13, 2009
No matter what they are saying, It's still not all rosy
Nouriel Roubini's Global EconoMonitor: According to press reports the IMF may allegedly be increasing its estimate of global bank losses to $4 trillion, a figure consistent with estimates by a variety of independent bank analysts
The RGE Monitor has been suggesting for a while that "total loan losses by US based financial companies could peak at about $3.6 trillion.
Essentially, it suggests that the United States' banking system if virtually bankrupt. The IMF is now also catching up and suggesting a figure $4 trillion. It now looks like the G20's $1 trillion injection will be a drop in the bucket. Hold onto your hats - it's not looking pretty at all.
Posted by billhill @ 03:08 PM (242 views) Add Comment
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