Credit losses could approach $1 trillion: IMF
there had been a "collective failure" to grasp the extent of leverage in the financial system and the risk that it could be unwound in a disorderly fashion. Conditions may get worse as the limping U.S. economy leads to more credit losses
Whoa, well maybe for those who participate on this blog, we already knew this.
What I am wondering about now is when the Fed runs out of bail-out $$$ to prop up their business pals.