IMF Hikes Bank Loss Forecast To Shocking $4.1 Trillion

[girl gone mad]

IMF Hikes Bank Loss Forecast To Shocking $4.1 Trillion
http://www.businessinsider.com/imf-bank-losses-to-hit-41-trillion-2009-4">The Business Insider

The IMF has come out with its latest forecast for the financial crisis, pegging total losses at $4.1 trillion.

That's up significantly from the IMF's estimate a quarter ago, and it's an even more dire forecast than Nouriel Roubini's.

http://www.ft.com/cms/s/68bd1602-2e72-11de-b7d3-00144feabdc0,Authorised=false.html?_i_location=http%3A%2F%2Fwww.ft.com%2Fcms%2Fs%2F0%2F68bd1602-2e72-11de-b7d3-00144feabdc0.html&_i_referer=http%3A%2F%2Fwww.businessinsider.com%2Fimf-bank-losses-to-hit-41-trillion-2009-4">FT: The IMF estimated that total writedowns on US assets would reach $2,700bn, up from the $2,100bn estimate it made in January and almost double what it forecast in October last year. Including loans originated in Japan and Europe, the writedowns would hit $4,100bn, it added.

Banks will bear about two thirds of the losses, it said, with insurance companies, pension funds, hedge funds and others taking the rest.

The organization argued in its latest Global Financial Stability Report that the response to the crisis has been reactive and piecemeal.

http://www.businessinsider.com/imf-bank-losses-to-hit-41-trillion-2009-4">More...

[w4rma]

1. Losses of money that never existed. (nt)