http://www.reuters.com/article/gc06/idUSN2246242920071022
Countrywide Financial Corp, Washington Mutual Inc and several other finance companies were downgraded on Monday by Lehman Brothers analyst Bruce Harting, who said the U.S. credit downturn could result in $242 billion of mortgage-related losses.
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He [Harting] called $174 billion the most likely scenario, assuming a 6 percent decline in home prices. Losses could total $12 billion this year, $40 billion in 2008, $45 billion in 2009, more than $30 billion in 2010, and less thereafter, he said.
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