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!
| Estimated Subprime Related Write down& 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 |
Data: as of 29/04/2008
Source: Bloomberg
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3 Comments
Busydude
May 26, 2008ouch, those big fellas lost a lot of dosh. Hope that it is in better hands now :)
Sean
May 31, 2008That's still less than 6 months in Iraq. So defence contractors can line their pockets with taxpayer money/debt while banks go under.
Mua Ban
August 2, 2016I blog quite often and I truly appreciate your content. This great article has truly peaked my interest.