Well I have been following the housing market, via my RSS feeds. Sad to watch so much bad news. To top it off I saw the list today of company losses. I still cannot stand people who have been saying companies losing billions will have no effect on anything. Sad to say they have been dead wrong.

 

update on 01/17/2007 from BBC

MAIN SUB-PRIME LOSSES SO FAR

 

Merrill Lynch: $22.1bn

Citigroup: $18bn

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

JP Morgan Chase: $1.3bn

Credit Suisse: $1bn

Wachovia: $1.1bn

IKB: $2.6bn

Paribas: $439m

Source: Company reports