Banks worldwide have already suffered more than $500 billion of write downs and loan losses since the global credit crisis began more than a year ago. The crisis grew more acute in September, with government takeovers of mortgage companies Fannie Mae and Freddie Mac, the bankruptcy of Lehman Brothers, Bank of America Corp's shotgun agreement to buy Merrill Lynch & Co, and a bailout of the insurer American International Group Inc. This came just six months after a government-backed rescue of Bear Stearns Cos.
Should we expect more banks to go under in the coming months? Or should we believe that the worst is over? What lies ahead of us? Mr Joseph Tan will share his views on the issue and provide an analysis on the forecast of the economy in the coming months.