Are We Past the Halfway Mark?
March 13, 2008
01:13 PM ET |
Katy Marquardt
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Standard & Poor's released a report today saying write-downs from subprime mortgage securities were probably past the halfway mark. But don't get too excited. David Gaffen over at the WSJ's MarketBeat blog weighs in:
The problem remains, of course, just how long the banks experience a contraction in their capital base, their willingness to lend and fund new projects, and the availability of credit to borrowers. So yes, the worst of the write-downs may be in the rear-view mirror (although the first quarter earnings period will truly be the determinant of this), but that doesn't make the outlook sunnier just yet.
Tags: subprime mortgages
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