As followers of our blog , you know that we posted Roubini´s analysis long time ago. Well, he was right !Today, in a conference in Dubai, Roubini has said that US Banking system is "effectively insolvent". The level of credit losses could peak at 3.6 $ Trillion and the system has a capital of 1.4 $Trillion.
He also said that European banking system is NOT in better shape.
Losses and writedowns in financial companies have already reached more than 1 $ Trillion.
WIZ
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