$460 Billion in Losses?

Wall Street May Face $460 Bln in Losses

Wall Street banks, brokerages and hedge funds may report $460 billion in credit losses from the collapse of the subprime mortgage market, or almost four times the amount already disclosed, according to Goldman Sachs Group Inc. Profits will continue to wane, other analysts said.

``There is light at the end of the tunnel, but it is still rather dim,'' Goldman analysts including New York-based Andrew Tilton said in a note to investors today. They estimated that residential mortgage losses will account for half the total, and commercial mortgages as much as 20 percent.

Earnings and share prices at U.S. financial institutions tumbled in the past year as fallout from the mortgage crisis spread to other markets. Demand for mortgage-backed securities evaporated, leading to the collapse of Bear Stearns Cos., once that market's largest underwriter, and a Federal Reserve-led bailout by JPMorgan Chase & Co. earlier this month.

Continued...

 

Goldman sees $1.2 trillion global credit loss

Battered home prices keep toppling

McCain addresses housing crisis options

Financial Giants Keep Downgrading Each Other

Nearly one in 10 Ohioans now receives food stamps

March Consumer Confidence Tumbles to 5-Year Low

The American Journey Experience is the new home of the car Orson Welles gave to Rita Hayworth. Orson Welles gave this car to his future wife Rita Hayworth for her 24th birthday.

George Orson Welles was an American actor, director, producer, and screenwriter who is remembered for his innovative and influential work in film, radio and theatre. He is considered to be among the greatest and most influential filmmakers of all time and his work has had a great impact on American culture.

Every year as Thanksgiving approaches, the fear of politics being brought up at the dinner table is shared by millions around the country. But comedian Jamie Kilstein has a guide for what you should do to avoid the awkward political turmoil so you can enjoy stuffing your face full of turkey.

Kilstein joined "The Glenn Beck Program" to dissect exactly how you can handle those awkward, news-related discussions around the table on Thanksgiving and provided his 3-step guide to help you survive the holidays with your favorite, liberal relatives: Find common ground, don’t take obvious bait, and remember that winning an argument at the cost of a family member won’t fix the issue you’re arguing about.

Watch the video clip below. Can't watch? Download the podcast here.

Want more from Glenn Beck?

To enjoy more of Glenn’s masterful storytelling, thought-provoking analysis, and uncanny ability to make sense of the chaos, subscribe to BlazeTV — the largest multi-platform network of voices who love America, defend the Constitution, and live the American dream.

On Friday, Mercury One hosted the 2022 ProFamily Legislators Conference at The American Journey Experience. Glenn Beck shared this wisdom with legislators from all across our nation. We must be on God’s side.

Winston Marshall assumed that he would be playing banjo with Mumford & Sons well into his 60s, but one tweet — simply recommending Andy Ngo's book — was all it took for the woke mob to attack. At first, Winston apologized, saying he "was certainly open to not understanding the full picture." But after doing some research, not to mention a whole lot of soul-searching, his conscience "really started to bother" him.

On the latest episode of "The Glenn Beck Podcast," Winston opened up about the entire scandal, what he discovered in the wake of his cancellation, and why he's decided to put truth over career.

"I looked deeper and deeper into the topic, and I realized I hadn't been wrong [when] I'd called the author brave," Winston said of Ngo. "Not only was he brave, he'd been attacked by Antifa mobs in Oregon, and he was then attacked again ... he's unquestionably brave. And so my conscience really started to bother me ... I felt like I was in some way excusing the behavior of Antifa by apologizing for criticizing it. Which then made me feel, well, then I'm as bad as the problem because I'm sort of agreeing that it doesn't exist," he added.

"Another point, by the way, that I found it very frustrating, was that that left-wing media in this country and in my country don't even talk about [Antifa]. We can all see this footage. We see it online," Winston continued. "But they don't talk about it, and that's part of my, I think, interest initially in tweeting about Andy's book. Because I think people need to see what's going on, and it's a blind spot there. ... CNN and MSNBC, they don't cover it. Biden in his presidential election said it was just 'an idea' that didn't exist. I mean, did he not see the courthouse in Oregon being burnt down?"

Watch the video clip below or find the full podcast with Winston Marshall here.


Want more from Glenn Beck?

To enjoy more of Glenn’s masterful storytelling, thought-provoking analysis, and uncanny ability to make sense of the chaos, subscribe to BlazeTV — the largest multi-platform network of voices who love America, defend the Constitution, and live the American dream.