Comments on: Banking System Losses to Hit $1.6 Trillion? http://www.nakedcapitalism.com/2008/07/banking-system-losses-to-hit-16.html Sun, 22 Nov 2009 07:56:24 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: semar http://www.nakedcapitalism.com/2008/07/banking-system-losses-to-hit-16.html#comment-10709 semar Mon, 07 Jul 2008 15:16:00 +0000 http://www.nakedcapitalism.com/2008/07/banking-system-losses-to-hit-16-trillion/#comment-10709 Nice article you got here :)<br/><br/>It's quite interesting that even if the markets (somehow) found a base, the financial didn't. Probably large trade desks are still shorting them, knowing things can be much worse.<br/><br/>$1.6 trillion...how many countries have a smaller anual GDP? Many I think Nice article you got here :)

It’s quite interesting that even if the markets (somehow) found a base, the financial didn’t. Probably large trade desks are still shorting them, knowing things can be much worse.

$1.6 trillion…how many countries have a smaller anual GDP? Many I think

]]> By: Edward Harrison http://www.nakedcapitalism.com/2008/07/banking-system-losses-to-hit-16.html#comment-10690 Edward Harrison Mon, 07 Jul 2008 09:45:00 +0000 http://www.nakedcapitalism.com/2008/07/banking-system-losses-to-hit-16-trillion/#comment-10690 Here's the translation. It is a very compelling piece.<br/><br/>http://www.creditwritedowns.com/2008/07/16-trillion-new-esimate-on-writedowns.html<br/><br/>By the way, George Soros is saying pretty much the same thing. Here’s the translation. It is a very compelling piece.

http://www.creditwritedowns.com/2008/07/16-trillion-new-esimate-on-writedowns.html

By the way, George Soros is saying pretty much the same thing.

]]> By: Anonymous http://www.nakedcapitalism.com/2008/07/banking-system-losses-to-hit-16.html#comment-10681 Anonymous Mon, 07 Jul 2008 07:15:00 +0000 http://www.nakedcapitalism.com/2008/07/banking-system-losses-to-hit-16-trillion/#comment-10681 Does this include all the trash The Fed has taken in as collateral since JPM, Bernanke & Paulson married off Bear? I would think that pile of garbage is at least another trillion by now and rocketing daily!<br/><br/>The Fed had it so backward, i.e, they wanted to save the market before Japan opened on a Monday, and then they overlooked the rest of the year -- and the price of being crooked versus honest!!!!!!!!! Does this include all the trash The Fed has taken in as collateral since JPM, Bernanke & Paulson married off Bear? I would think that pile of garbage is at least another trillion by now and rocketing daily!

The Fed had it so backward, i.e, they wanted to save the market before Japan opened on a Monday, and then they overlooked the rest of the year — and the price of being crooked versus honest!!!!!!!!!

]]> By: Tom Lindmark http://www.nakedcapitalism.com/2008/07/banking-system-losses-to-hit-16.html#comment-10675 Tom Lindmark Mon, 07 Jul 2008 04:27:00 +0000 http://www.nakedcapitalism.com/2008/07/banking-system-losses-to-hit-16-trillion/#comment-10675 I was put a bit off stride this morning when I read the UBS/Credit Suisse news and wrote the following-http://blog.metro-real-estate.com/?p=675. Nothing more than musings at the time. Now I log on and see this. The full translated report would be helpful but the implications are stunning. I was put a bit off stride this morning when I read the UBS/Credit Suisse news and wrote the following-http://blog.metro-real-estate.com/?p=675. Nothing more than musings at the time. Now I log on and see this. The full translated report would be helpful but the implications are stunning.

]]> By: jdd http://www.nakedcapitalism.com/2008/07/banking-system-losses-to-hit-16.html#comment-10674 jdd Mon, 07 Jul 2008 03:38:00 +0000 http://www.nakedcapitalism.com/2008/07/banking-system-losses-to-hit-16-trillion/#comment-10674 Does the 500 billion+ or whatever the number is in worthless, or low-value to par, paper that the Fed, BoE and EBC have assumed in exchange for treasuries count in this figure or are we talking about 1.6 billion + the socialized losses? Does the 500 billion+ or whatever the number is in worthless, or low-value to par, paper that the Fed, BoE and EBC have assumed in exchange for treasuries count in this figure or are we talking about 1.6 billion + the socialized losses?

]]> By: Edward Harrison http://www.nakedcapitalism.com/2008/07/banking-system-losses-to-hit-16.html#comment-10671 Edward Harrison Mon, 07 Jul 2008 01:59:00 +0000 http://www.nakedcapitalism.com/2008/07/banking-system-losses-to-hit-16-trillion/#comment-10671 I caught this article in Sonntagszeitung as well because there was an especially explosive one regarding the lack of capital at UBS and Credit Suisse in the same paper. See my translation here:<br/><br/>http://www.creditwritedowns.com/2008/07/ubs-and-credit-suisse-must-pony-up-70.html<br/><br/>Anyway, the article I saw was much longer and in depth than the one Paul Kedrosky translated. I am probably in for the night but I might be able to translate it tomorrow if someone hasn't already. Here's the link:<br/><br/>http://www.sonntagszeitung.ch/wirtschaft/<br/><br/>I'm not sure how long the link will last, so I'll put it up on my site in original language for tonight before I go to sleep.<br/><br/>Cheers.<br/>Ed H I caught this article in Sonntagszeitung as well because there was an especially explosive one regarding the lack of capital at UBS and Credit Suisse in the same paper. See my translation here:

http://www.creditwritedowns.com/2008/07/ubs-and-credit-suisse-must-pony-up-70.html

Anyway, the article I saw was much longer and in depth than the one Paul Kedrosky translated. I am probably in for the night but I might be able to translate it tomorrow if someone hasn’t already. Here’s the link:

http://www.sonntagszeitung.ch/wirtschaft/

I’m not sure how long the link will last, so I’ll put it up on my site in original language for tonight before I go to sleep.

Cheers.
Ed H

]]> By: Anonymous http://www.nakedcapitalism.com/2008/07/banking-system-losses-to-hit-16.html#comment-10670 Anonymous Mon, 07 Jul 2008 01:51:00 +0000 http://www.nakedcapitalism.com/2008/07/banking-system-losses-to-hit-16-trillion/#comment-10670 With regard to what inning we're in, some credit should be given to Santyajit Das, who has written some reference books on derivatives published by Wiley, dating back to 1989 at least. In Sept. 2007, a reporter asked Das what inning of the credit crisis we're in: third? Second? Das laughed and said that they're still just singing the national anthem. If of further interest, the interview where he made this prescient comment is at MSN Money<br/>http://articles.moneycentral.msn.com/Investing/SuperModels/AreWeHeadedForAnEpicBearMarket.aspx With regard to what inning we’re in, some credit should be given to Santyajit Das, who has written some reference books on derivatives published by Wiley, dating back to 1989 at least. In Sept. 2007, a reporter asked Das what inning of the credit crisis we’re in: third? Second? Das laughed and said that they’re still just singing the national anthem. If of further interest, the interview where he made this prescient comment is at MSN Money
http://articles.moneycentral.msn.com/Investing/SuperModels/AreWeHeadedForAnEpicBearMarket.aspx

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