Calculated Risk covers the Goldman Sachs conference call. Below are some of the comments about the mortgage crisis and home prices.
We believe ... the industry will suffer $148 Billion total losses related to CDOs, to date we've accounted for roughly about $40 billion of those, so we're estimating another $108 billion in writedowns over the next several quarters.
Goldman Sachs, Nov 19, 2007
and
House prices have 13% to 14% to fall from current level.
Goldman Sachs, Nov 19, 2007
they went on to say eight states are expected to have price drops of 30%.
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