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Post by unlawflcombatnt on Apr 22, 2009 3:09:47 GMT -6
from Reuters www.reuters.com/article/marketsNews/idAFSP46613220090422?rpc=44By Kevin Plumberg April 22, 2009 " Most Asian markets slipped as caution spread, pushing up the U.S. dollar and yen, before official results of U.S. bank stress tests are released on May 4.
U.S. Treasury Secretary Timothy Geithner said on Tuesday most U.S. banks have enough reserves to keep lending, but investors were reluctant to dive back into risk, such as by pushing commodity-related currencies higher, until further clarity could be reached on the banking industry....
Financials in the S&P 500 rose 8% on Tuesday .GSPF, but Asian bank stocks were mixed with investors cautious about prospects for further write-downs and the capital needs at banks around the world -- especially after the International Monetary Fund said write-downs could reach $4.1 trillion.
"You have to ask yourself how long will enthusiasm for Mr. Geithner's words last?" said Jan Lambregts, head of Asia research for Rabobank Global Financial Markets in Hong Kong.
"Essentially, until May 4, we're waiting for results from the stress tests. It's quite a messy process until then."...."
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Post by danreller on Apr 22, 2009 6:15:00 GMT -6
This is the lowest estimate I've heard.
I've seen estimates of 14 Trillion to 1,016 Trillion, but, not 4.1. Most of the estimates I've seen are in the 50-60 Trillion range.
Hasn't the US alone thrown 4.1 T at it so far?
Upon reflection, this estimate is so low that it's laughable.
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