Next year should see “a fairly savage bear market for credit, a large rise in defaults and an end to easy liquidity conditions,” says Tim Bond of Barclays Capital. Along with a slew of other market analysts, Bond -- Tim Bond -- sees the massive U.S. credit industry finally getting what it deserves.
Even Alan Greenspan is predicting a possible turn in the credit cycle. Last week, the former Fed chair gave the U.S. a 1-in-3 shot at slipping into recession by the end of 2007. Actually… ahem… excuse us… he predicted, “By algebraic implications, the odds are 2-to-1 we won't have a recession.”
Even Alan Greenspan is predicting a possible turn in the credit cycle. Last week, the former Fed chair gave the U.S. a 1-in-3 shot at slipping into recession by the end of 2007. Actually… ahem… excuse us… he predicted, “By algebraic implications, the odds are 2-to-1 we won't have a recession.”
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