http://bigdogdotcom.wordpress.com/2007/11/16/lord-rees-mogg-let-the-cat-out-of-the-bag/
To measure subprime losses, we have to first find out the size of the subprime market. Fed data pegs the total US residential value at US $20 trillion and the US residential mortgage market at US $10 trillion. This number is substantial, as it eclipses the US treasury market of US $9 trillion.
Of the US [...]
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