Liz Claman and Nouriel Roubini
Earlier this month well-known American economist Nouriel Roubini announced that most American banks are on the verge of insolvency, and hundreds are already completely bankrupt.
US economists estimated that 186 US banks may be prone to the same risks as Silicon Valley Bank. This number is likely higher as the pressures that regional banks are facing are ramping up.
On Monday top economist Nouriel Roubini joined Liz Claman on FOX Business Network to discuss the banking crisis. Roubini says, “The Worst Is Yet to Come,” in the US banking crisis.
Roubini added, “U.S. banks’ unrealized losses actually amount to $1.75 trillion, or 80% of their capital.”
Nouriel Roubini: I’ve said many of the smaller banks are insolvent because of the very large losses on their holdings on securities. For US banks overall it’s $620 billion in unrealized losses on two trillion dollars of capitol. An even the value of their loans now is underwater… People estimate the overall US banking system has losses of $1.75 trillion assets with capitol at 2 trillion.
Via The Claman Countdown.
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