IMF Says Financial Losses May Swell to $945 Billion

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By Christopher Swann

http://www.bloomberg.com/apps/news?pid=20601068&sid=aGY94_a50EtQ&refer=home

April 8 (Bloomberg) -- The International Monetary Fund said losses stemming from the U.S. mortgage crisis may approach $1 trillion, citing a ``collective failure'' to predict the breadth of the crisis.

Falling U.S. house prices and rising delinquencies may lead to $565 billion in residential mortgage-market losses, the IMF said in its annual Global Financial Stability report, released today in Washington. Total losses, including those tied to commercial real estate, may reach $945 billion, the fund said. The fund also saw as much as $90 billion in further losses from potential downgrades of bond insurance companies. ,,,,,,,,,,,,,,,

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Some confirmation to what has already been reported by honest economic analyst.