Wednesday, Nov 14, 2007
"Ooooh, yer b*stard" - said in a wincing, hard edged Northern accent
Bloomberg: Subprime Losses May Reach $400 Billion, Analysts Say (Update5)
Morgan Stanley analyst Anil Agarwal in Hong Kong today cut his rating on the stock of HSBC Holdings Plc to ``equal-weight'' from ``overweight.'' The London-based lender's $2.1 billion of provisions against its $45 billion mortgage services business may be insufficient, he said.
Deutsche Bank's Mayo expects writedowns at HSBC, UBS AG, Royal Bank of Scotland Group Plc and Barclays Plc to be ``ballpark $5 billion or so'' each, he said.
Posted by lvmreader @ 06:45 AM (418 views) Add Comment
3 Comments
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1. dohousescrashinthewoods said...
Slowly, slowly, out it comes.
6:15 BBC business news was talking about the fall in price of private equity debt (specifically countrywide) and the suggestion that PE assets are about to go the way of CDOs and SIVs, amounting to another round of huge losses.
2. japanese uncle said...
A credit crunch is an eely trap with its magnitude indeterminable. Namely it tends to extend boundlessly as the recessionary pressure caused by a surge of credit crunch drives otherwise wholesome businesses and individuals to the wall, adding to the bad debt of the lenders, generating another surge of credit crunch. Today they are talking of 400 billion, they may well be talking of 1,000 billion next month. The only solution is, to set up a public fund by imposing on retroactive basis 95% tax on all the capital gains and salaries globallyh in excess of USD 1 million that were realized/paid during the buble economy period. This trillion dollar fund can be used to stem the systemic risk, and rectify the maldistribution of wealth.
3. yorkshireman said...
By eck lad, that's a reet load o' brass