Comments on: Goldman: Subprime May Wipe Out $2 Trillion in Lending

By: Goldman: Citi Exposed to $15 Billion in Write Downs

Goldman: Citi Exposed to $15 Billion in Write Downs — Mon, 19 Nov 2007 20:27:35 +0000

[...] a report on California properties calling for a 35% drop in prices, a research note on the elimination of $2 trillion in global lending and now the Citi write down [...]

By: Tom Vanderwell

Tom Vanderwell — Mon, 19 Nov 2007 01:28:37 +0000

We’re just starting to see the ramifications of all of this. I think that when we get to the other side of it (could be as early as 2009 in some places, 2015 in others) the banking world is going to look a lot different, there are names in the banking business that won’t exist, names in the mortgage business that won’t exist, and there are going to be a lot of people currently in the real estate, mortgage lending, and construction fields who will be working elsewhere. I believe that those who have experience, integrity, and are not afraid to work very hard and put the needs of their customers ahead of “maximum profits” on the deal will make it through. That’s going to be a small number of those currently employed…..

By: Ann

Ann — Sun, 18 Nov 2007 23:48:42 +0000

It just goes to show you that what is currently happening today will go down in the history of the United States and will become a future “course” at Harvard..we are traveling down a road that has never been dealt with in the past nor is there a “model” or set of “guidelines” to predict the outcome..pretty scary stuff…

By: Mike

Mike — Sun, 18 Nov 2007 19:59:34 +0000

Time to look at the really big picture. The USA has been on a path of self destruction for a number of years and this will likely continue until the inevitable finally occurs. The mortgage crisis is just one more nail in the coffin.