On Nov 8, 2007, at 8:51 AM, Andy F wrote:
> On Nov 7, 2007 7:39 PM, ira <ira at yanua.com> wrote:
>
>> And guess what now? New reliable estimates suggest that using these
>> market prices – rather than level 3 model gimmicks - will lead to
>> losses
>> of another $100 billion on top of hundreds of billions of subprime
>> losses. And some market participants are already talking – quite
>> realistically – about total losses from this credit disaster in
>> the $500
>> billion range.
>
> Isn't that what the S&L bailout was?
No, it was about $200b. As I remember, the loss estimates kept getting bigger as that saga evolved, until someone hit the magic $1 trillion mark.