Re: DOW Up 416.66 : Financial Groups' Correction?

On Mar 12, 7:23 am, Doobie Keebler <kooper...@[EMAIL PROTECTED]
> wrote:
> 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

 what galt means is that he waiting for a more realistic re****t from
some free market warrior who can say the paper is of "BETTER" quality
than the gloomers and doomers have been predicting. that said re****t
will come out after the nanny state has restored the dubious paper for
the time being. but that re****t must come out quickly, because gravity
always wins in the end.