* OCTOBER 8, 2008
Losses on Bad U.S. Assets Could Top $1.4 Trillion
By TOM BARKLEY
<http://online.wsj.com/search/search_center.html?KEYWORDS=TOM+BARKLEY&ARTICLESEARCHQUERY_PARSER=bylineAND>
WASHINGTON -- With losses on bad U.S. assets alone expected to top $1.4
trillion, the International Monetary Fund urged global policy makers to
coordinate a response to the spreading financial crisis.
The latest estimate of losses in the IMF's Global Financial Stability
Report is well above the IMF's April prediction of $945 billion, which
some economists considered high at the time. It also tops the $1.3
trillion forecast given by Managing Director Dominique Strauss-Kahn two
weeks ago.
"With financial markets world-wide facing growing turmoil,
internationally coherent and decisive policy measures will be required
to restore confidence in the global financial system," the IMF said.
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