Trajectory of the Credit Crunch

Care of Calculated Risk, I really can't add much to this:

From Bloomberg: Subprime Losses Reach $232 Billion With UBS, Deutsche: Table (hat tip Brian)

The following table shows the $232 billion in asset writedowns and credit losses since the beginning of 2007, including reserves set aside for bad loans, at more than 45 of the world's biggest banks and securities firms.

See article for table.

Since Chairman Bernanke is testifying before the Senate Banking Committee tomorrow, here is a quote from last year:

"Some estimates are in the order of between $50 billion and $100 billion of losses associated with subprime credit problems."
Chairman Bernanke, July 19, 2007

OK, maybe I can add a bit.

In less than 9 months, a 3-5 fold increase.

When I have the chance, I'll post a quote from the Marketplace radio show that will curl your hair.