18:39
The U.S. banking system is it on the brink of bankruptcy?
Yes, says economist Nouriel Roubini. In a study published on Thursday that the media have dubbed "Dr. Disaster" ensures that U.S. banks will lose more than one trillion dollars. He argues for it to be recapitalized again.
The cost of the crisis for banks in the world could amount to 3,600 billion dollars by accumulating losses and writedowns, according to a study released Thursday by the economist Nouriel Roubini.
For Nouriel Roubini, one of the first to have predicted the collapse of the financial system, the losses would be well above what the banks have so far recognized (1,000 billion dollars).
Nicknamed Dr. disaster for his pessimism, Nouriel Roubini, who predicted in 2006 the housing market crisis and its collapse, said the U.S. banking system is "on the verge of insolvency."
In a study published with the analyst Elisa Parisi-Capone on his blog, RGE Monitor, Nouriel Roubini, professor at New York University, estimates that global banks will lose a total of 1,600 billion dollars over 12,370 billion loan unsecured. Of this total, banks and brokerage firms lose U.S. alone of $ 1,100 billion.
Banks will also have to address impairments of $ 2,000 billion in financial assets now estimated at 10,840 billion, say the two economists. For the U.S. banking system, the effort required would be 600 to 700 billion dollars.
In total, U.S. banks alone bear half the overall cost of the crisis of 3.600 billion dollars, says Nouriel Roubini.
Given that the total assets of U.S. banks is 1,840 billion recapitalization after they have received state, the banking system of the United States "is on the verge of insolvency if our estimates of losses are realized "write the two economists.
They argue therefore that U.S. banks are recapitalized again from 1000 to 1400 billion, by public or private capital.
The cost of the crisis for banks in the world could amount to 3,600 billion dollars by accumulating losses and writedowns, according to a study released Thursday by the economist Nouriel Roubini.
For Nouriel Roubini, one of the first to have predicted the collapse of the financial system, the losses would be well above what the banks have so far recognized (1,000 billion dollars).
Nicknamed Dr. disaster for his pessimism, Nouriel Roubini, who predicted in 2006 the housing market crisis and its collapse, said the U.S. banking system is "on the verge of insolvency."
In a study published with the analyst Elisa Parisi-Capone on his blog, RGE Monitor, Nouriel Roubini, professor at New York University, estimates that global banks will lose a total of 1,600 billion dollars over 12,370 billion loan unsecured. Of this total, banks and brokerage firms lose U.S. alone of $ 1,100 billion.
Banks will also have to address impairments of $ 2,000 billion in financial assets now estimated at 10,840 billion, say the two economists. For the U.S. banking system, the effort required would be 600 to 700 billion dollars.
In total, U.S. banks alone bear half the overall cost of the crisis of 3.600 billion dollars, says Nouriel Roubini.
Given that the total assets of U.S. banks is 1,840 billion recapitalization after they have received state, the banking system of the United States "is on the verge of insolvency if our estimates of losses are realized "write the two economists.
They argue therefore that U.S. banks are recapitalized again from 1000 to 1400 billion, by public or private capital.
source : lexpress.fr
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