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TEP - 22 December 2008 Soccer fans might be familiar with things like English Premier League Table. Below is the Asset Write down League Table of Global Banks and Insurers. The Good News is that you do not see any UK Insurers in the league. Why? Because Financial Services Authority (Monetary Authority of UK) forbids UK Insurers to invest in anything related to sub-prime mortgages. This turns out to be what saved the UK Insurers. Thus, if you want an investment that is stable and secure, you should definitely consider UK Traded Endowment. Regards.
Source: Bloomberg
| Subprime losses by GSE | | | Company | Total writedowns and credit losses since Jan 2007 ($bn) | | 1 | Freddie Mac | 58.4 | | 2 | Fannie Mac | 56 | | | Total | 114.4 |
GRAND TOTAL: $989.3 billion |
