CDOs Something That Can Be Swept Under The Rug??

Think again: Subprime CDO Losses Could Reach $52 Billion, Credit Suisse Says. The $52 bln figure is low ball since Credit Suisse doesn't believe subprime defaults are a systemic problem. Yikes. This goes back to how the entire credit food chain was loving and benefiting from a massive amount of mortgage origination and how the housing boom, largely led by subprime loans over the last few years, was touted as a miracle that was helping all sectors of the economy. Now they want us to believe subprime is isolated? .

But still, the point is well taken, that CDO losses are going to be huge, though probably several times higher than the present Credit Suisse estimate.