Did I hear correctly? Democrats are calling for US$20b for the federal rescue plan. Dosen't this number look too less when compared to projected US$400b? A rescue plan that is 5% of the losses is laughable when there could be many billions undiscovered under the rubble.
Infact, the total loss of top half dozen banks in US alone cross the US$100b mark.
FT has some very interesting stats and maped the subprime crunch on the world map. Have a look.
http://www.ft.com/cms/s/0/9622326c-d5b8-11dc-8b56-0000779fd2ac.html
http://media.ft.com/cms/cc2eb1e8-77fb-11dc-8e4c-0000779fd2ac.swf
Icing on the cake is the credit crunch. Will talk about it next time over.
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hi dipika! I write on mphilchronicles.blogspot.com now... :)
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