Saturday, October 31, 2009

THIS MAY NOT BE THE FINAL NUMBER

but it still gives a good estimate about how much capital the MOTU pissed away because of the housing bubble:
According to the IMF, writedowns on UK bank assets are going to be $604bn, against $814bn for the eurozone and $1,025bn for the US. (Source: Martin Wolf, Financial Times)

Excluding losses in other parts of the world, this adds up to $2.443 TRILLION.

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