Total losses stemming from writing down the value of mortgage-linked securities could be as high as $200 billion, with financial institutions sitting on at least $60 billion in losses that have not yet been disclosed, JPMorgan said Monday...
Only 500 TRILLION left write down.
Cheers
PeakOil is You
200 BLN $ WRITE DOWNS LOOM -- JP MORGAN
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200 BLN $ WRITE DOWNS LOOM -- JP MORGAN
by roccman » Mon 05 Nov 2007, 20:58:54
"There must be a bogeyman; there always is, and it cannot be something as esoteric as "resource depletion." You can't go to war with that." Emersonbiggins
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roccman - Light Sweet Crude
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Re: 200 BLN $ WRITE DOWNS LOOM -- JP MORGAN
by Denny » Tue 06 Nov 2007, 00:22:34
Well, look at the positive side. With today's electronic economy and online banking, we won't have to wait as long for the central banks to inflate the money supply to patch over the write downs.
No lag for changing the currency printing presses over from $20 bills to $100 bills to $1,000 bills, etc. Just get used to adding more zeroes onto any financial transaction.
We'll all be millionaires soon.
No lag for changing the currency printing presses over from $20 bills to $100 bills to $1,000 bills, etc. Just get used to adding more zeroes onto any financial transaction.
We'll all be millionaires soon.
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Denny - Heavy Crude
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- Joined: Sat 10 Jul 2004, 03:00:00
- Location: Canada
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