Deutsche Bank’s Jain: Crisis is Solvency, Not Liquidity

From Housingwire:

Anshu Jain, head of global markets at Deutsche Bank AG, said in remarks Thursday that most financial institutions are now facing a solvency issue around housing — a surprising assessment, to say the least, and one that underscores just how damaging the continued freefall in U.S. housing is likely to be for financial outfits that invested heavily in the area during the recent run-up....MORE