‘Credit Shock’ Could Wipe Out $1trn
Apr 9th, 2008 | By Contrarian Profits | Category: Featured, Financial News, Politics & EconomicsThe ongoing credit crisis could trigger losses of $1 trillion, according to an assessment by the International Monetary Fund.
In its twice-yearly review of the global financial markets, the UN agency also warned that there is a “collective failure” to grasp the extent of leverage in the financial system that could further damage the health of the US economy.