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October 28, 2008 · 4:19AM

Global Bank Losses Double To $2.8 Trillion

The Bank of England estimated Tuesday that global banks’ mark-to-market losses on financial products like asset-backed securites have exceeded forecasts doubling to a staggering $2.8 trillion since April. U.S. banks have lost $1.57 trillion, according to the report. (CNBC)

Categories: Business & Finance Today · Financial Services · Markets, Economic News

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