According to Deutsche Bank’s chief executive, Josef Ackerman, bad loans might trigger the next financial crisis. Even though most losses in mortgage backed securities have been taken, consumer loan losses and other losses tied to the crash of the subprime-mortgage market remain soaring. The unknown amount of repackaged mortgage debt and the rising number of homeowners, struggling to meet mortgage payments, warn us to remain cautious. The melt-down of the U.S. high-risk mortgage market isn’t over a year after it began, and economists still expect more banks to fold.
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According to Deutsche Bank’s chief executive, Josef Ackerman, bad loans might trigger the next financial crisis. Even though most losses in mortgage backed securities have been taken, consumer loan losses and other losses tied to the crash of the subprime-mortgage market remain continue soaring. The unknown amount of repackaged mortgage debt and the rising number of homeowners, struggling to meet mortgage payments, warn us to remain cautious. One year after it began --> this works better at the beginning of the sentence the melt-down of the U.S. high-risk mortgage market isn’t over a year after it began, and economists still expect more banks to fold.
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