Worldwide, through the third quarter 2008 there have been $647.5 billion in writedowns and credit losses according to Bloomberg, using the widely popular WDCI screen, a.k.a. the new Wall Street “sport pages”.
Of note is the fact that $153.3 billion of those losses came in Q3 alone, $150 billion of which was from the Americas. The bright sign may be that Europe’s losses and writedowns totaled a paultry $3.3 billion, compared to prior quarters of $40.8B, $88.5B and $78.8B. Could it mean that Europe will soon be out of the woods on writedowns and losses?
Data from Bloomberg, October 15, 2008