March 26, 2008

U.S. Credit Losses Will Hit $1.2 Trillion

Goldman Sachs forecasts that worldwide credit losses fromthe ongoing market turmoil will reach $1.2 trillion, and that Wall Street will account for nearly 40 per cent of the losses. U.S. leveraged institutions will suffer will suffer roughly $460 billion in credit losses after loan loss provisions. Good going, Hank!!

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