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$32 Billion and Counting.
New York -- Over the past few months, Wall Street firms, banks and other players in the mortgage market have written off more than $32 billion in collateralized debt obligations tied to subprime-related securities, according to a tally done by this newspaper.
Whats more, a recent report issued by Deutsche Bank suggests that the ultimate cost to American financial institutions could be in the range of $130 billion.
To date, the largest writedowns have been suffered by Citigroup, a major player in ...
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Source: HighBeam Research, $32 Billion and Counting.