Credit Crunch creates a rush to the Russians
Yesterday’s post prompted me to revisit the part of the BBC’s website with the credit loss timeline to see where we stand today. According to the various announcements, this is the latest list of consolidated subprime losses: Citigroup: $40.7bnUBS: $38bnMerrill Lynch: $31.7bnHSBC: $15.6bnBank of America: $14.9bnMorgan Stanley $12.6bnRoyal Bank of Scotland: $12bnJP Morgan Chase: $9.7bnWashington…