THE COMING SUBPRIME MESS

http://money.cnn.com/magazines/fortune/fortune_archive/2007/11/26/101232838/index.htm?postversion=2007111212
Big Names, Big Losses
The toll keeps rising Here are the losses that top banks and brokers have booked (or announced) on CDOs, asset-backed securities, and other structured products.
Write-downs on structured products
Citigroup
$9.8 billion
This is the low estimate; Citi says the figure could be $3 billion higher.
Merrill Lynch
$7.9 billion
Analysts project that the broker will have to write down billions more this quarter.
UBS
$4.4 billion
UBS still has nearly $40 billion in CDOs and mortgage-backed securities on its books.
Morgan Stanley
$3.7 billion
Morgan's total subprime exposure after write-downs stands at $6 billion.
Wachovia
$2.1 billion
Wachovia was among the top issuers of subprime mortgage CDO debt this year.
Credit Suisse
$948 million
Credit Suisse lost nearly another $1 billion on leverage loans.
Lehman Brothers
$700 million
Total includes leveraged loans; Lehman does not provide more detail.
Bank of America
$527 million
CEO Ken Lewis is cutting back the company's investment-banking operations.
Bear Stearns*
$450 million
Big hedge fund losses in June kicked off the subprime follies.
J.P. Morgan Chase
$339 million
CEO Jamie Dimon is credited with losing less than his peers.
Structure products include collateralized debt obligations, collateralized loan obligations, asset-backed securities, and mortgage-backed securities. They do no include leveraged loans. *Estimate. Source: Company earnings releases