{"id":196673,"date":"2008-04-02T17:13:00","date_gmt":"2008-04-02T22:13:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/04\/02\/trajectory-of-the-credit-crunch\/"},"modified":"2008-04-02T17:13:00","modified_gmt":"2008-04-02T22:13:00","slug":"trajectory-of-the-credit-crunch","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/04\/02\/trajectory-of-the-credit-crunch\/","title":{"rendered":"Trajectory of the Credit Crunch"},"content":{"rendered":"<p>Care of <a href=\"http:\/\/calculatedrisk.blogspot.com\/2008\/04\/table-credit-losses-and-write-downs.html\">Calculated Risk<\/a>, I really can&#8217;t add much to this:<\/p>\n<blockquote style=\"color: rgb(0, 0, 153);\"><p>From Bloomberg: <a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601208&amp;sid=an2o_RDeA.9A&amp;refer=finance\">Subprime Losses Reach $232 Billion With UBS, Deutsche: Table<\/a> (hat tip Brian) <\/p>\n<blockquote><p>The following table shows the $232 billion in asset writedowns and credit losses since the beginning of 2007, including reserves set aside for bad loans, at more than 45 of the world&#8217;s biggest banks and securities firms. <\/p><\/blockquote>\n<p> See article for table.<\/p>\n<p>Since Chairman Bernanke is testifying before the Senate Banking Committee tomorrow, here is a quote from last year: <\/p>\n<blockquote><p><em>&#8220;Some estimates are in the order of between $50 billion and $100 billion of losses associated with subprime credit problems.&#8221;<\/em><br \/>Chairman Bernanke, <a href=\"http:\/\/www.reuters.com\/article\/ousiv\/idUSN1933365020070719\">July 19, 2007<\/a><\/p><\/blockquote>\n<\/blockquote>\n<p>OK, maybe I can add a bit.<\/p>\n<p>In less than 9 months, a 3-5 fold increase.<\/p>\n<p>When I have the chance, I&#8217;ll post a quote from the <span style=\"font-style:italic;\">Marketplace<\/span> radio show that will curl your hair.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Care of Calculated Risk, I really can&#8217;t add much to this: From Bloomberg: Subprime Losses Reach $232 Billion With UBS, Deutsche: Table (hat tip Brian) The following table shows the $232 billion in asset writedowns and credit losses since the beginning of 2007, including reserves set aside for bad loans, at more than 45 of &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[973],"tags":[],"class_list":["post-196673","post","type-post","status-publish","format-standard","hentry","category-economy"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/196673"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=196673"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/196673\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=196673"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=196673"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=196673"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}