Re: DOW Up 416.66 : Financial Groups' Correction?

On Mar 11, 7:52 pm, "John Galt" <whoisjohng...@[EMAIL PROTECTED]
> wrote:

> The risk to the taxpayers through the window is 200B max.
>
> Where's the immolation?
>
> JG


UBS' and Merrill Lynch's total expected writedown estimates are around
$600bn, still a long way to go from the $180bn currently acknowledged
by major banks.

How 'bout I meet you half-way on that number?

$400bn of mortgage-related losses could cause a credit contraction
resulting in a $1 trillion fallout for the real economy.  This would
translate into a 1.3% reduction in GDP growth.  Extending the loss
estimate to non-mortgage debt, Goldman Sachs calculates the hit to GDP
to be around 2% this year.

(RGE)

..
..d