Friday, Mar 14, 2008
Sub-Prime football: Half time scores
Bloomberg: Subprime Losses Reach $195 Billion; German Banks Get Hit: (Table)
The following table shows the $195 billion in asset writedowns and credit losses since the beginning of 2007, including reserves set aside for bad loans, at more than 45 of the world's biggest banks and securities firms. German banks reporting earnings this week said they had further losses.
Posted by alan @ 04:40 PM (414 views) Add Comment
5 Comments
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1. mark said...
not much considering how much northern rock cost the taxpayer............
2. deepak said...
What I find wierd is Barclays was the 3rd biggest CDO and sub prime player after Citi Group and Merill Lynch.
But there losses are 1/8 of the above. Either they got out in time or hiding. We will soon find out.
3. Plato said...
I believe we will actually find this to be a fraction of real credit losses and asset writedowns. This is just preparing the way by attempting to cause a minmum amount of panick while they frantically try to resolve the situation. We are being 'drip-fed' figures that are ultimately impossible to hide, and every day the situation is getting worse. It's a self-destructive product of greed.
4. bystander said...
what I find equally strange is that GBP has again fallen against the euro even though I cannot find any reason for this drop - is it just that we are at the mercy of the whims and fancies of the currency market speculators or have I missed an important economic review??? Advice would me appreciated as I am still a little confused by the moveemnts of the money markets, especially as the German banks are now coming under further pressures and the ECB is drip feeding finance into the markets to bolster the european banks and markets.
5. Slysmiles said...
I think the money movements are based on home much trouble we're in, the UK is heavily tied to the US as a net importer, the EU is a net exporter. Our bubbles are the same,if not larger, than the US bubbles. My guess is no confidence in our government and banks. Also lots of panic in general, so going to the safest homes : Swiss Franc, Yen and Euro. The $ and £ aren't to be trusted it seems.