. . . and pretty soon you're talking about real money. As in a trillion smackeroos.
That is the amount the International Monetary Fund predicts that loses stemming from the
mortgage crisis may approach in citing a "collective failure"’ to predict the breadth of the crisis. U.S.
house prices and rising delinquencies may lead to $565 billion in mortgage-market losses, the also IMF said in its annual Global Financial Stability report U.S. . Total losses, including the securities tied to commercial real estate and loans to consumers and companies, may reach $945 billion, the fund said.
More here.Cartoon by Signe Wilkinson/Philadelphia Daily News