Wednesday, May 13, 2009
Germany Has $800 Billion Euros in Toxic Assets
Nouriel Roubini's RGE Monitor reports that an internal paper by a German banking regulator states that the total of bad assets in the German banking system is $816 billion Euros.
This number includes both includes toxic securitized assets and also bad loans.
As one example, half of all assets of a particular Landesbank are classified as toxic.
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