[jiggyboy]

Write downs aren’t the same as losses, yet.

Now that is a banker's half-truth for the hall of fame. Of course they're not, when their policy is either to just not declare them losses (yet) or just keep them off the balance sheet (because that will bankrupt them), cf. Citibank's multi-billions of write-downs-that-are-not-losses from last week.

Nope, they're not "losses" (wink wink) until the FDIC comes in and shuts the place down.

[Toddsterpatriot]

Now that is a banker's half-truth for the hall of fame.

What were the original estimates for losses in the S&L crisis? The actual losses were much less.