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Prof Does Math, Finds Banking System 'Insolvent'

By Harry Kimball,  Newser Staff

Posted Jan 21, 2009 1:37 PM CST

(Newser) – A New York University professor who predicted the current economic crisis warns that losses at US banks could climb to $3.6 trillion, leaving the whole system essentially bankrupt, Bloomberg reports. Economist Nouriel Roubini argues that since the system has a base capitalization of just...   Read full story »

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