Exact(25)
Still, of the $62 billion loss being reported, only about $2 billion is a cash loss.
Agency reported a pro-forma cash loss of 13 cents a share a year earlier.
We don't like to admit we're wrong by taking a cash loss on a losing position.
That figure is a cash loss -- exclusive of good will and other accounting charges -- not a net loss.
Assets have been written down in value, but that is not the same as a cash loss.
It has written down its stake by about half, though the cash loss on what it put in is smaller.
Similar(32)
Those out-of-pocket cash losses total less than $20 billion, according to Mr. Picard.
Those kinds of cash losses are unsustainable for a business of that size.
He suggested that cash losses will probably be half of the $85 million projected.
As a result, only those who got in very recently have substantial cash losses.
Mr. Picard has so far recovered about $9.4 billion of the estimated $17.5 billion in cash losses from the Madoff fraud.
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