Credit Crisis
Roubini: Credit losses from the crisis up to $1.6 Trillion
By Webmaster - Posted on July 10th, 2008
Cheaprealty presents:
A few months ago, estimates of losses in financial markets related to the subprime credit crunch were around a trillion dollars. And a few months before that, the estimates were around 400 billion.
Now Nouriel is talking about 1.6 trillion dollars of financial losses.
In case anyone thought a bunch of positive signals plucked from government and industry reports equals a shallow recession, Nouriel practically says, "Not so fast...." There are a lot of headwinds for the economy to struggle against.
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