thestatedtruth.com | July 23, 2009
Through March of 2009, banks had taken only $1.1 trillion in write- downs to date. Even the most conservative estimates put total credit losses at $2.2 trillion. Tilson and Tongue make a convincing case that the losses will be far worse than that – more like $3.8 trillion. And these numbers have only grown over time. […]
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