The credit losses on the mortgages that financed these houses and on the pyramids of complicated debt products built on top of them are still mounting.
Up next for Priya is perfecting the even-smaller windmills that he has patented, which should be able to capture even lighter breezes, and may also be suitable for mounting on a top hat.
Second, a top Chinese banking regulator said recently that municipal governments, which have seen mounting debts, can roll over bank loans as long as projects are 60% complete.