Wisconsin Banking Update
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‘A Better Way to Fix the Banks’
Posted on February 28th, 2009 No commentsU.S. banks may currently hold as much as $2 trillion of impaired assets. “Given the likely depth and duration of the recession, the losses on them could eventually exceed $1 trillion — on top of the $500 billion in losses already realized. Whatever the precise tally, the final reckoning is certain to be larger than many U.S. banks can absorb out of common equity and from their earnings,” writes The McKinsey Quarterly.
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