Banks Are Only Starting To Uncover Subprime Losses


	Banks Are Only Starting To Uncover Subprime Losses

Forbes Markets

11-5-2007 8:00 AM

709 views

tags:

banking, credit crunch, economy, investment banking, subprime mortgages, u.s. economy, wall street

Forbes Markets says:

Sobering analysis of banks' bad debt that in short says worse is yet to come.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/49306049-4cc4-48b2-ae6d-3480961fd55b/4419A52A-ABB9-47A3-94D3-967D5B6280C1/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.ft.com/cms/s/0/3ca7bbc0-8af5-11dc-95f7-0000779fd2ac.html" href="http://www.ft.com/cms/s/0/3ca7bbc0-8af5-11dc-95f7-0000779fd2ac.html" style="font-size: 11px;">www.ft.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ft.com/cms/s/0/3ca7bbc0-8af5-11dc-95f7-0000779fd2ac.html"><P>Such a tsunami of red ink would undoubtedly be shocking at any time. But right now, this news is proving particularly unsettling for investors for two particular reasons. First, the numbers offer an unpleasant reminder that the pain from this summer’s credit turmoil is still far from over – contrary to what some bullish American bankers and policymakers were trying to claim a few weeks ago. “To judge from secondary market prices, losses on mortgage inventory are likely to be larger in the fourth quarter than the third quarter,” warns Tim Bond, analyst at Barclays Capital, the UK bank.</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/4419A52A-ABB9-47A3-94D3-967D5B6280C1/blog/" title="blog or email this clip"><img src="http://content8.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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