Saturday, April 4, 2009

Banks Owe More Than Consumers

According to this article and the accompanying charts, banks owe more than consumers as a percentage of GDP.

"The banks that made the loans proved to be much more willing to borrow than their customers, whether corporate or consumer. And that debt has not begun to recede, despite Wall Street bankruptcies and widespread efforts by financial firms to reduce their own debts."

And if you look at the chart provided on that page, you'll see how the bank debt has risen exponentially.

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