$500 billion and counting...

I have been reading for quite some time on predictions of how much investors will lose on the sub-prime crisis. Well, Bloomberg is reporting today that the number is going to be around $501 billion and counting!! Some experts predict losses will reach $2 trillion be over it is all over.

The collapse of the U.S. subprime mortgage market last year
has saddled banks worldwide with $501 billion of losses from declining values of
securities tied to all types of home loans and commercial mortgages as well as
leveraged-loan commitments.

Wow, that is a lot of money!! I would have to assume the in the next year or so, we will finally reach a grand total on the damages of sub-prime mortgages caused.