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May 22, 2008

Financial Industry Losses

Investment banks and other financial institutions have been bombarding the world with losses reports for the past several months. Having lost account of the amount of losses incurred since the rise of the subprime mortgage crisis.

I am not sure about you, but I was certainly dying to sum it all up and just stand and stare at the total figure. And there you go!

ÂEstimated SubprimeRelated Writedown& Losses ($ Billions)
Citroup$40.9
UBS38.0
Merrill Lynch31.7
Bank of America14.8
Royal Bank of Scotland14.7
Morgan Stanley12.6
HSBC12.5
JP Morgan Chase9.8
Credit Suisse9.6
IKB Deutsche8.9
Washington Mutual8.3
Deutsche Bank7.6
Wachovia7.3
All Others101.7
Estimated Industry Total

$ 3 1 8 . 4 0 bn

Â

Data: as of 29/04/2008

Source: Bloomberg

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2 Responses to “Financial Industry Losses”

  1. Busydude Says:

    ouch, those big fellas lost a lot of dosh.
    Hope that it is in better hands now 🙂

  2. Sean Says:

    That’s still less than 6 months in Iraq. So defence contractors can line their pockets with taxpayer money/debt while banks go under.

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