Monday, July 28, 2008
There are several US banks that are now in big trouble
It means the cost of bailing out housing exposures to the two mortgage insurers will be so great that it will leave no room to bail out anything else and there are several US banks that are now in big trouble.
US banks have written down $450 billion in bad housing loans.
The revelation from NAB means that they will now certainly need to take provisions to $1,000 billion. But write-downs of $1,300 billion and perhaps even more are on the cards.
US banks have written down $450 billion in bad housing loans.
The revelation from NAB means that they will now certainly need to take provisions to $1,000 billion. But write-downs of $1,300 billion and perhaps even more are on the cards.
THIS LINK posted by Joseph Bell : 7:40 AM
