Banks: Losing $100 Billion In One Quarter (C)(JPM)(WFC)(BAC)(GS)(MS)(UBS)(CS)(DB)

From 247wallst.com

The conventional wisdom was that 2008 would be the worst year for bank losses in years, but that it would be the bottom. The damage of mortgage-backed securities has moved into the past. What else could be left?

The figures for the last quarter of 2008, being reported now, show that 2009 could be astonishingly bad for big banks. The dozen largest banks in the world could easily lose a combined $100 billion. The problems causing that will certainly cascade into this year.

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Stocks Mentioned: Citi (NYSE: C), JPMorgan (NYSE: JPM), Wells Fargo (NYSE: WFC), Bank of America (NYSE: BAC), Goldman Sachs (NYSE: GS), Morgan Stanley (NYSE: MS), UBS (NYSE: UBS), Credit Suisse (NYSE: CS), Deutsche Bank (NYSE: DB).

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