2008-09-14 — nypost.com
`` Bove, in an exclusive interview with The Post, said the crushing $32.5 billion in mortgage defaults he is estimating WaMu will face over the next five quarters will force the federal government to guarantee as much as $24 billion in losses on defaulted option-ARM and subprime mortgages and home-equity lines of credit, or HELOCs.''
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