The following is a list of subprime-related write-downs made by European banks up to April 1. The banks have taken over $68 billion of charges and write-downs due to the crisis so far.
Lehman Brothers Holdings Inc. (NYSE:LEH) is considering halting all new loans from its two British subprime mortgage units and putting further pressure on subprime borrowers whose mortgages are coming to the end of fixed-rate terms, the Financial Times re
The overall write-downs by UBS so far of 37.4 billion dollars are far greater than those of American banks Citigroup (21.1 billion dollars in 2007) and Merrill Lynch which has booked 19.4 billion dollars in write-downs.
financial research firm Celent say the U.S. banking industry will lose 200,000 jobs over the next 12 to 18 months.
If you had to come here for this information,
and you didn’t buy the sail from us,
you have to ask yourself 2 questions.
Why didn’t my dealer tell me this? and Why did I buy my sail from him?