Ambrose Evans-Pritchard on the insolvency of US banks
Half of America’s banks are potentially insolvent – this is how a credit crunch begins Ambrose Evans-Pritchard The twin crashes in US commercial real estate and the US bond market have collided with $9 trillion uninsured deposits in the American banking system. Such deposits can vanish in an afternoon in the cyber age. The second and third biggest bank failures in US history have followed in quick succession. The US Treasury and Federal Reserve would like us to believe that they…
