$1 trillion down, $1 trillion to go …

Goldman Sachs economists estimate that financial institutions and investors world-wide will ultimately realize $2 trillion in losses on U.S. loans, but have recognized only half those losses so far.

Note: roughly half of the projected write-offs are residential mortgages.  Good news: “only” $234 billion in commercial real estate.

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Source: WSJ, “U.S. Plots New Phase in Banking Bailout”, Jan. 17, 2009
http://online.wsj.com/article/SB123214588361091677.html

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