Credit Crisis Will Extend Into 2009, Oppenheimer Says

``Banks have become reliant on securitization markets to fund consumer lending, Whitney said. With that market shut down in the wake of the credit crunch, banks will struggle to match the funding from their own balance sheets, she added. That will remove about $3 trillion of liquidity from capital markets by the end of the year, and banks' losses will worsen as consumers will be unable to repay debt with fresh loans, [Whitney] added.''