December 16, 2007

Banks must own up to subprime losses to keep fear at bay: analysts (AFP)

A foreclosed house is for sale in Los Angeles.  It is time for the banks to fully disclose their US home-loan losses to prevent fear from making a tough credit crunch worse since the central banks have done about all they can to restore confidence, analysts say.(AFP/File/Robyn Beck)AFP – It is time for the banks to fully disclose their US home-loan losses to prevent fear from making a tough credit crunch worse since the central banks have done about all they can to restore confidence, analysts say.

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