Troubled Assets Still Around

The credit derivatives still linger, alongside future ARM defaults. The New York Times had the following to say,

" The Federal Reserve estimated in May that American banks still had about $599 billion in assets to write down. Goldman Sachs and the International Monetary Fund estimated the total at about $1 trillion. And RGE Economics, headed by Nouriel Roubini, has estimated the total at $1.27 trillion. "

So until Americans sort out the above, the crisis will worsen. Pretty obvious right?