"[This quote shows what is the worst case scenario when banks have been recklessly loaning at the top of a real estate and share market cycle.] As previous bank write-downs produce a global economic recession and second leg down of the bear market, banks are being hit by a feedback loop: the economic downturn that was caused by the collapse of the credit bubble and the sub-prime write-downs is itself causing more write-downs. "
Alan Kohler
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