25+ (Not So) Fun Subprime Facts

241 major US lending firms have imploded

2,500,000 estimated number of homes lost to foreclosure in subprime meltdown

433 percent increase in subprime mortgages from 2000-2006

25 percent of all mortgages that subprime made-up in 2006 

52 percent of all mortgages made to African-Americans that were subprime in 2006 

80% drop in subprime mortgages in UK

66% drop in new housing permits in Riverside County CA

$19,893,000,000.00 loss in Bear Sterns value from 52-week high to now 

12/14/2004 date “Subprime Market Grows Despite Troubles” article ran in USA Today

$285,000,000,000.00 total subprime writedowns as of now according to S&P 

388,888,888 number of shares of McDonald’s you could have bought with the amount of market cap wiped out in Countrywide stock

4 number of government bail outs German bank IKB has needed thus far because of subprime writedowns

25,000 number of jobs lost (will be lost) at Citigroup from 4/07-4-08

20% rate at which Port of NY/NJ paid to sell its bonds on 2/12, up from 4.25%

17 number of companies that the FBI has launched a criminal probe on regarding the subprime fall-out

70,000 number of homes foreclosed on in Cayohoga County (Cleveland) in Ohio

90% amount UBS’ chairman’s pay was cut after record loss because of subprime writedowns

63% amount Washington Mutual CEO’s pay was cut 

$5.25 million amount WM CEO still made

¥96 amount the dollar is now trading below thanks, in part, to subprime losses 

12 years the last time the dollar was this weak versus the Yen

300 the number of basis points the Fed has cut rates in the last six months 

6 the number of months, out of 6, that the Fed has cut rates 

0% or less is the current ‘real’ interest rate

68% the ‘correction’ in stock price faced by US Homebuilders from 07/05-01/08

$423,000,000,000.00 amount the fed has committed to providing liquidity to credit markets because of subprime meltdown.

60 the percentage of total Treasury securities on the Fed’s balance sheet that covers the above commitment.

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