Whitney: Pain Is Far from Over for U.S. Banks
May 27th, 2008Via: MarketWatch:
“As we see no near- or medium-term comeback in securitization volumes, we believe losses will only accelerate further and far worse than even the most draconian estimates,” according to Whitney. “Due to continued deterioration in consumer liquidity, we are raising our loss expectations significantly for the group and lowering our earnings estimates significantly.”
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