Mr. Mortgage: ‘Enormous Bank Losses’ Lie Ahead…Carlyle’s Rubenstein Says

``He talks about ‘enormous losses not yet realized for the bank’ and where this is all headed. He says, ‘it will take at least a year before all losses are realized, and some financial institutions may fail’. Hey, that is FOUR MORE KITCHEN SINK QUARTERS! Moving right along he says ‘the sovereign wealth funds are not likely to jump into the fray again to bail out these institutions’ and ‘many financial institutions aren’t going to be able to survive as independent institutions’. There is much more where this came from. I could add to his report by mentioning the $5.5 TRLLION in Level 2 and 3 assets not yet marked appropriately in most cases.''