2008-07-16rgemonitor.com

Some excerpts:
  • This is by far the worst financial crisis since the Great Depression
  • Hundreds of small banks with massive exposure to real estate (the average small bank has 67% of its assets in real estate) will go bust
  • Dozens of large regional/national banks (a’ la IndyMac) are also bankrupt given their extreme exposure to real estate and will also go bust



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