The capital backing the banks ’ assets was only $1.4~trillion last fall, leaving the US banking system some $400~billion in the hole, or close to zero even after the government and private - sector recapitalization of such banks.
The capital backing the banks ’ assets was only $1.4~trillion last fall, leaving the US banking system some $400~billion in debt, or close to zero even after the government and private - sector recapitalization of such banks.