Beyond Obama Time
November 28th, 2009
” Every bank seems to need more money. Both in the US and in Europe, the banking systems need tens of billions of dollars in additional capital. And soon. China is reining in its banks, which will also need to raise billions more after spending 2009 in a wild government ordered lending spree. Japanese banks have lived in the twilight zone longest of all. The IMF estimates there’s at least another $1 trillion in losses to be absorbed. Standard and Poor’s simply says most large banks are unsafe. Too much risk. ”
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