WASHINGTON (AFP) - Losses linked to the meltdown of the subprime real estate market may reach 285 billion dollars globally, according to a new report Thursday that said the worst of the crisis may be over.
US rating agency Standard & Poor’s said it increased its estimates for the global financial community from 265 billion dollars earlier this year as write-downs have continued to rise.
The losses come from subprime mortgages — those made to borrowers with weak credit histories — which are then repackaged into …
