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IPFS News Link • Economy - Economics USA

Roubini Predicts U.S. Losses May Reach $3.6 Trillion, banking system is “effectively insolvent”

“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 inso