It is time for India’s public banks to come clean about their subprime mortgage exposure, or so says a recent article in the  Economic Times from India.  Many had held out hope that the public banks were somewhat wiser in limiting their exposure to the currently distressed subprime assets, but it seems their exposure to […]

News from Japan on this lovely Friday is that the country faces around a 1.2 trillion loss because of losses on subprime mortgages.  The subprime mortgage asset loss of ¥1.2 trillion is from 2007 alone.  It seems as if Mizuho will be the hardest hit sustaining over half of the entire country’s losses on subprime […]

The International Monetary Fund is reporting today that the credit crisis may cost an aggregate of $1 trillion to the United States.  The credit crisis emerged in the second half of 2007 due to a variety of consequences.  The credit crisis stemmed, primarily, from the housing market and problems surrounding subprime mortgages.  The total losses […]