Now, Banks’ Subprime Losses Exceed $500 Billion!
By: Myles, August 12th, 2008
Today, Bloomberg News reported that 100 of the world’s biggest banks losses from the U.S. sub-prime crisis, and the ensuing credit crunch, crossed the $500 billion mark as write-downs spread to more asset types.
Further exacerbating the situation we now see that auction-rate securities have begun adding to the losses as regulators and prosecutors force banks […]
Tags: Subprime Losses
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