http://www.bloomberg.com/apps/news?pid=20601087&sid=a3fCFxLIgT2s&refer=worldwide
Doug Henwood wrote:
> 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
>
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