Asked by ., Los Angeles, CA • Sun Jan 25, 2009
Posted Jan 22nd 2009 11:30AM by Peter Cohan / Filed under: Bad news, Financial Crisis. Last March, I posted on whether we were at the beginning of the Greatest Depression. Back then, my reasoning was that there was $6.1 trillion in financial toxic waste -- in the form of Collateralized Debt Obligations (CDOs) -- in our financial system resting on a sliver, a mere $340 billion, in capital.
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