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$400 billion?

A paper exploring the fallout of the subprime crisis makes the point that, although direct losses may be only (only?) $400 billion, half of these will end up with leveraged institutions in the US - which will in turn cut their lending by $2 trillion. From economists at Morgan Stanley, Goldman Sachs, Chicago and Princeton. Via Calculated Risk - which also has a summary.

Posted by Alexander Campbell on March 4, 2008 2:09 PM |

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