On Nov 7, 2007, at 6:56 PM, joanna wrote:
> Doug Henwood wrote:
>
>> So, the standard estimate is that there are about $200 billion in
>> mortgage losses, mostly subprime, out there, but banks have only
>> written off $20-25 billion of it. Well now we're getting almost $4
>> billion closer to $200b.
>>
> My understanding is that it's not the 200 billion that's the problem,
> but the mountain of leverage on top of that.
>
> Correct? Not correct?
What, $200b isn't enough for you!?!?
The answer is...who knows? No one does. It could be more, it could be less. As the late Ed Hart of the late FNN used to say, we'll know in the fullness of time.
Doug