Quote of the Day

May 21, 2009 8:30am by Barry Ritholtz

Today’s seminal insight to stimulate your brain:

“There is still a very large unfunded capital requirement in the commercial banking system in the United States and that’s got to be funded. Until the price of homes flattens out we still have a very serious potential mortgage crisis.”

The source?

Alan Greenspan, showing off his newly developed gift for stating the obvious . . .

Sources:
Greenspan Says Banks Still Have a ‘Large’ Capital Requirement
Alison Fitzgerald
Bloomberg, May 21
http://www.bloomberg.com/apps/news?pid=20601087&sid=aiOYLnM2WxuA&

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