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Re: None

Wednesday, 01/28/2009 9:17:50 AM

Wednesday, January 28, 2009 9:17:50 AM

Post# of 376163
CNBC tidbits from Dr. Doom (Nouriel Roubini)

If the toxic assets were fairly valued, then many banks would fail, as the entire US banking system is insolvent at this time.

Therefore, the US taxpayer will have to pay considerably more than these assets are worth, in order to have the bank remain viable and able to freely lend money. And the money will have to be cheap money.

His figures show about $3.6 trillion in total will be needed to actually save the banks.

Hope I got all that right....this was an interview done in Davos...

Naz News Board...Gappers and Tankers

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