Stephanie Pomboy's
MacroMavens site gave
this worrying picture of banks' exposure to real estate risk, on 7 June 2005 -
(I'd be grateful for an update for 2007). The Mogambo Guru recently (
12 July) quoted her firm as saying (in Barron's) that $693 billion of mortgages are now in the red, with a possible $210 billion in outright losses.
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