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Did anyone read what Roubini said today?
"...
Roubini said total credit losses resulting from the meltdown of the subprime mortgage market will be ``closer to $3 trillion,'' up from his previous estimate of $1 trillion to $2 trillion. The International Monetary Fund estimated $1.4 trillion on Oct. 7. Financial firms have so far reported $637 billion in losses, according to data compiled by Bloomberg. ..."
He also says the market will tank despite yesterdays rally. He thinks the recession will last a couple of years.
A year ago I predicted $1.5 Trillion in losses. I was called chicken little.... Now, once again, I was too conservative.
So, any guesses on who the Republicans are going to Nationalize tomorrow? I guess it's up to us to make the predictions as all the republicans are avoiding this thread.
Hmmm ... I wonder why?
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