{"id":29,"date":"2007-09-23T08:23:55","date_gmt":"2007-09-23T08:23:55","guid":{"rendered":"http:\/\/astraea.net\/blog\/?p=29"},"modified":"2007-09-23T08:23:55","modified_gmt":"2007-09-23T08:23:55","slug":"sub-prime-losses-estimates-rising","status":"publish","type":"post","link":"https:\/\/www.astraea.net\/blog\/sub-prime-losses-estimates-rising\/","title":{"rendered":"Sub-prime losses estimates rising"},"content":{"rendered":"<p>Fed Chairman said during testimony to the the House Committee on Financial Services on 20 September that losses from sub-prime mortgages have far exceeded &#8220;even the most pessimistic estimates&#8221;.  This statement is disappointing because it undermines any build-up of confidence that might be encouraged by recent rate cuts and liquidity injections.<\/p>\n<p>But worse, his comments do not quantify the Fed&#8217;s understanding of the losses. We shared an estimate of sub-prime exposure of $ 250 billion some months ago, although most analysts estimates are closer to $ 100 billion.  If the exposure exceeds even our pessimistic number, the knock-on effect will be devastating; if, however, it exceeds the previous consensus the ramifications are already accounted for.<\/p>\n<p>Whatever the number is, the adjustment process must continue for some months yet.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Fed Chairman said during testimony to the the House Committee on Financial Services on 20 September that losses from sub-prime mortgages have far exceeded &#8220;even the most pessimistic estimates&#8221;. This statement is disappointing because it undermines any build-up of confidence that might be encouraged by recent rate cuts and liquidity injections. But worse, his comments &hellip;<br \/><a href=\"https:\/\/www.astraea.net\/blog\/sub-prime-losses-estimates-rising\/\" class=\"more-link pen_button pen_element_default pen_icon_arrow_double\">Continue reading <span class=\"screen-reader-text\">Sub-prime losses estimates rising<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[24],"tags":[],"class_list":["post-29","post","type-post","status-publish","format-standard","hentry","category-markets"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p4hwcd-t","jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.astraea.net\/blog\/wp-json\/wp\/v2\/posts\/29","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.astraea.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.astraea.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.astraea.net\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.astraea.net\/blog\/wp-json\/wp\/v2\/comments?post=29"}],"version-history":[{"count":0,"href":"https:\/\/www.astraea.net\/blog\/wp-json\/wp\/v2\/posts\/29\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.astraea.net\/blog\/wp-json\/wp\/v2\/media?parent=29"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.astraea.net\/blog\/wp-json\/wp\/v2\/categories?post=29"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.astraea.net\/blog\/wp-json\/wp\/v2\/tags?post=29"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}