Roubini:US Banking Sys Insolvent.$2.5T more Loss is coming.

• lionnoisy

  21 Jan 09, 10:04

  ee

  Chee Soon Juan told us US sys is the best in the world.

  But now..........US,as primary student knows,owe debts

  over US$10 trillion.Creditors include this red dot and PRC etc.

  How can a

  "We remain the most prosperous, powerful nation on Earth."

   

  (Obama's inaugural speech)

  owe debts about 80 % of GDP?

  http://edition.cnn.com/2009/POLITICS/01/20/obama.politics/index.html

  Is it a good model?Can Dr Chee tell me here or in his web site?

  Roubini: U.S. Banking System Insolvent, Another $2.5T of Losses ...

  A couple of years ago, when Nouriel Roubini predicted that U.S. financial-system losses would total $1 trillion, everyone thought he was insane.  He has since revised his estimate.  Now he's looking for $3.6 trillion:

  Bloomberg: U.S. financial losses from the credit crisis may reach $3.6 trillion, suggesting the banking system is “effectively insolvent,” said New York University Professor Nouriel Roubini, who predicted last year’s economic crisis.

  “I’ve found that credit losses could peak at a level of $3.6 trillion for U.S. institutions, half of them by banks and broker dealers,” Roubini said at a conference in Dubai today. “If that’s true, it means the U.S. banking system is effectively insolvent because it starts with a capital of $1.4 trillion. This is a systemic banking crisis.”

  Losses and writedowns at financial companies worldwide have risen to more than $1 trillion since the U.S. subprime mortgage market collapsed in 2007, according to data compiled by Bloomberg....EOQ

  http://finance.yahoo.com/tech-ticker/article/160553/Roubini:-U.S.-Banking-System-Insolvent,-Another-$2.5T-of-Losses-Coming

   -

  nnn

  http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aS0yBnMR3USk

  Roubini Predicts U.S. Losses May Reach $3.6 Trillion (Update1)

  Jan. 20 (Bloomberg)2009

  By Henry Meyer and Ayesha Daya

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  Just a small comparsion and without any hard feeling,

  Singapor's net reserve is estimated range from 100%

  to 180 % of GDP!!

  

   

  http://www.ni.com.sg/media_release_20060830BT.asp