through some data i managed to scrouge out of some investment banker friends, I estimate the total amount of subprime loans doled out in 2005 alone comes up to around USD 150 billion!
to get an idea about the amount of money, Reliance Industries (RIL) has a market cap of around USD 54 billion!
It’s as if the amount loaned out in subprime loans is enough to buy reliance 3 times over!
ah, well…??