Investor's Business Daily - The mortgage crisis and overall credit crunch will likely cut GDP growth by 1.3 percentage points in the next year, according to a study by several top economists at a Univ. of Chicago forum. Banks are expected to tighten credit further as home loan losses swell to $400 bil -- $250 bil more than previously seen. The report urged banks to cut dividends to preserve capital. Presenters included Jan Hatzius of Goldman Sachs, Anil Kashyap of the Chicago Fed and Hyun Song Shin of Princeton Univ.
Tuesday, March 4, 2008
Economy - Friday (Investor's Business Daily)
Investor's Business Daily - The mortgage crisis and overall credit crunch will likely cut GDP growth by 1.3 percentage points in the next year, according to a study by several top economists at a Univ. of Chicago forum. Banks are expected to tighten credit further as home loan losses swell to $400 bil -- $250 bil more than previously seen. The report urged banks to cut dividends to preserve capital. Presenters included Jan Hatzius of Goldman Sachs, Anil Kashyap of the Chicago Fed and Hyun Song Shin of Princeton Univ.
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