If any of you read the latest Jim Willie offerings you'd find that $500 billion is only a fraction of the slime.
He reckons the USD mortgage bond market is worth $10 trillion at face value of which 70% or greater is prime. These prime bonds have lost 30% of their face value so we're looking at $2.1 trillion lost on prime plus another $1 trillion in sub-prime for a total estimated loss in mortgage bonds of $3.1 trillion. So, boyz and girlz, $500 billion is only 1/6 of the total if his assessment is correct.
Lots of bad news to come if he's even remotely accurate.
If any of you read the latest Jim Willie offerings you'd find...
Add to My Watchlist
What is My Watchlist?
 (20min delay)
|
|||||
|
Last
26,683 |
Change
82.730(0.31%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 26,683 | 0.00 | 0.00 |