The collapse of the U.S. subprime mortgage market has led to about $76 billion of losses and markdowns at securities firms and banks this year.
73.33% Xmas sale, also from Bloomberg:
Dec. 10 (Bloomberg) -- Societe Generale SA, France's second-biggest bank by market value, will bail out its structured investment vehicle by taking on $4.3 billion of assets to avoid a fire sale. The value of the bank's own $103.5 million investment in capital notes sold by the SIV slumped to $27.6 million at the end of November, the bank said.
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