UpInArms
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Thu Jan-31-08 10:14 AM
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53. S&P sees more than $265 bln subprime losses |
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http://www.reuters.com/article/bondsNews/idUSN3155902020080131NEW YORK, Jan 30 (Reuters) - Standard & Poor's on Wednesday said total losses for financial institutions from the unfolding mortgage market problems will eventually reach more than $265 billion.
The rating agency's comment came after it said it cut or may cut its ratings on $270 billion worth of U.S. mortgage-backed securities and put $264 billion of collateralized debt obligations on watch for a possible downgrade.
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