Monday 23 November 2009

My Spectator

 

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Thursday, 17th January 2008

Ton Up

5:56pm

100 seems to the be the unpleasent, yet media-friendly number of the moment. $100 barrels of oil have been causing almost orgasmic excitement amongst the business media for weeks now. In the interest of sharing the love I have another 100 for you:

the JP Morgan write-downs of $1.3bn today took total global write-downs from banks through the $100 billion mark since June 30th last year.

The good folks who have been following this at Credit Suisse Asset Management reckon there's plenty more to come with another $30-50 billion hidden away ready to raise its ugly head.

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