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Thursday, June 05, 2008

How many trillions?

A while ago, the pessimistic figure being discussed was $1 trillion of losses; yesterday the FT looked at the prospect of $5 trillion of liabilities emerging from off-balance obscurity, to lurch back onto already-weak bank balance sheets.

There comes a point when it gets so dire it starts to become funny. Ah well, time to clean house.

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