Wednesday, January 30, 2008

More banking sub-prime losses – inbound

S&P Lowers or May Cut $534 Billion of Subprime Debt

``If you're holding a AAA piece and it's now downgraded to AA, you might have to write it down, even if you're holding it for an investment,'' . ``The longer it goes on and the higher the credit rating of the instrument downgraded, the wider the pain.''

Posted by alan @ 11:23 PM (2622 views)
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2 thoughts on “More banking sub-prime losses – inbound

  • The financial press seem to like the number 500*[email protected]*

    Thursday, January 31, 2008
    Subprime Losses At Big Banks Seen Reaching Y500bn In FY07

    TOKYO (Nikkei)–Mitsubishi UFJ Financial Group Inc. (8306), Mizuho Financial Group Inc. (8411), Sumitomo Mitsui Financial Group Inc. (8316) and Sumitomo Trust & Banking Co. (8403) face 500 billion yen in losses associated with U.S. subprime mortgages in the current fiscal year through March 31, The Nikkei learned Wednesday.

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