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21 January 2008, 10:00 PM

Gymbal

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Crash question:

MAIN SUB-PRIME LOSSES SO FAR
Citigroup: $18bn
UBS: $13.5bn
Morgan Stanley $9.4bn
Merrill Lynch: $8bn
HSBC: $3.4bn
Bear Stearns: $3.2bn
Deutsche Bank: $3.2bn
Bank of America: $3bn
Barclays: $2.6bn
Royal Bank of Scotland: $2.6bn
Freddie Mac: $2bn
Credit Suisse: $1bn
Wachovia: $1.1bn
IKB: $2.6bn
Paribas: $197m

If these lot have lost so much where has it gone? confidence? did it ever exist? how will tax revenues get shafted assuming the big banks pay any?

DON'T PANIC

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21 January 2008, 10:09 PM

Suresh

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Quote:

Originally Posted by Gymbal

MAIN SUB-PRIME LOSSES SO FAR
Citigroup: $18bn
Merrill Lynch: $14.1bn
UBS: $13.5bn
Morgan Stanley $9.4bn
HSBC: $3.4bn
Bear Stearns: $3.2bn
Deutsche Bank: $3.2bn
Bank of America: $3bn
Barclays: $2.6bn
Royal Bank of Scotland: $2.6bn
Freddie Mac: $2bn
Credit Suisse: $1bn
Wachovia: $1.1bn
IKB: $2.6bn
Paribas: $197m

If these lot have lost so much where has it gone? confidence? did it ever exist? how will tax revenues get shafted assuming the big banks pay any?

DON'T PANIC

Correction: Merrill Lynch lost $14.1bn on sub-prime, which resulted in a net loss of $7.8bn for 2007 compared to a profit of $7.5bn in 2006.

Losses are unrealised / on paper for the most part. Tax revenues will take a battering, but strangely the bonuses didn't