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?
I guess that was my question.
Carrol
>
> Joanna
>
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