Observing With Displeasure

The IMF forecast of 945 billion in credit losses is the first I have seen similar to mine. I started with 600 billion, and then went 750-950 billion. I'm currently in a tighter range of 850-950 billion. You can't take down one asset class - mortgages - without having substantial effects on other classes (CRE, CMBS, and a load of corporate debt). I'm not happy and I hope I am wrong. Dryfly commented over here a while ago that as the election wore on we would see crazier and crazier bailout plans