Banks face 'massive losses' (Vancouver Province)
Story date: 2008-02-27 12:41:03
Added on: 2008-02-27 01:05:39
TORONTO -- The U.S. banking sector is headed for a credit downturn that will be "the worst in generations," featuring widespread defaults on a range of debts and a national housing-price slide not seen since the Great Depression, says one of Wall Street's most influential analysts.
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