Mortgage-Related Losses: Banks In For Rough Times?

"Miller tallies a total of $94 billion in mortgage-related write-downs since August of 2007 by the worldwide banking system. That’s when the market repriced the securities thanks to falling home values and rising foreclosures. He anticipates banks will lose between $59 billion and $148 billion over the next few years." -- Wonder if he's counting pay options in that! And we sure do wonder what hedge funds are sitting on...