$460 Billion Credit Losses

From Bloomberg

Wall Street banks, brokerages and hedge funds may report $460 billion in credit losses from the collapse of the subprime mortgage market, or almost four times the amount already disclosed, according to Goldman Sachs Group Inc. Profits will continue to wane, other analysts said

Gee, wasn't it yesterday when the problems with the financial sector were declared over?

uh huh.

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