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!
| Â | Estimated SubprimeRelated Writedown& Losses ($ Billions) |
| Citroup | $40.9 |
| UBS | 38.0 |
| Merrill Lynch | 31.7 |
| Bank of America | 14.8 |
| Royal Bank of Scotland | 14.7 |
| Morgan Stanley | 12.6 |
| HSBC | 12.5 |
| JP Morgan Chase | 9.8 |
| Credit Suisse | 9.6 |
| IKB Deutsche | 8.9 |
| Washington Mutual | 8.3 |
| Deutsche Bank | 7.6 |
| Wachovia | 7.3 |
| All Others | 101.7 |
| Estimated Industry Total |
$ 3 1 8 . 4 0 bn |
Â
Data: as of 29/04/2008
Source: Bloomberg
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May 26th, 2008 at 5:59 am
ouch, those big fellas lost a lot of dosh.
Hope that it is in better hands now 🙂
May 31st, 2008 at 6:45 pm
That’s still less than 6 months in Iraq. So defence contractors can line their pockets with taxpayer money/debt while banks go under.