Analysts of Goldman Sachs — which incidentally has come out unscathed — estimate that the losses may run into hundreds of billions of dollars, especially when the third quarter results of banks and institutions are unveiled. The Citibank group itself has disclosed losses of as much as $8-9 billion ...
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Some estimates coming in from respectable bank analysts pitch possible losses at as high as $50 billion. The losses are, indeed, heavy. There were also similar crippling losses at Bear Stearns, the investment bank, and the leader of bulls, Merrill Lynch, again in billions of dollars. The CEOs lost their jobs, although in typical American fashion, they were paid handsome retirement bonuses running into millions of dollars...
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Title	Pages / Words	Save
BofA The number of commercial banks in operation fell down to 7,598 in the first quarter of 2005, down from 8,129 in 2002. Of the 5,743 state-chartered banks, 919 were members of the Federal Reserve System...	1 / 232
MISS Most Japanese savings until late 1990s continued to flow into banks. The banks therefore remained large but had to search for new lending opportunities...	2 / 383
Interest Rate Most companies had to downsize the organization and reduce employees and corporate bonds to survive in the recession. Even if they started new business and made new goods, Japanese consumers would not buy such things...	2 / 325
Why did the Japanese economy begin to experience major difficulties in the 1990s? From the second half of the 1970s, a current account surplus occurred in Japan as current account deficit of United States increased. Remarkable progress of export industries created trade friction between many foreign countries, especially with United States...	6 / 1403