The last laugh Russian bears A petrodollar saved Reserve army of underemployed Corrections: Poverty and the European Central Bank Reprints Related items Japan's politics: Aso braced; Fukuda into the sunsetSep 4th 2008Japanese financial institutions' losses on securities linked to American subprime mortgages so far amount to just $17 billion, out of worldwide losses of $500 billion.
On January 30th S&P downgraded or threatened to downgrade more than 8,000 bonds and CDOs, noting that financial institutions' losses tied to them could more than double to a mind-boggling $265 billion.Add to this the potential bill from the monoline bond-insurer debacle.
It requires the nation's biggest banks to submit to greater scrutiny, and to keep enough capital on hand to make sure taxpayers never again have to cover the institutions' losses.
However, as our findings indicate, because the physicians who emigrate are concentrated at higher quality institutions, losses in human capital resulting from emigration cannot be readily overcome by simply expanding private medical colleges.
If the likelihood of physician migration is the same across training institutions, losses in human capital due to emigrating physicians can be addressed by adding to training capacity and additional private sector training institutions might emerge to meet 'physician export' needs[ 30].
For several large institutions, the losses will probably be in the millions.
The decision to protect foreign institutions from losses in an A.I.G. collapse may reflect how interrelated the global financial markets have become.
In recent months, teams from the IMF have complained that the military regime has not done enough to improve revenue collection - only 2% of Pakistan's population pay any tax - or to reform corrupt institutions and loss-making nationalised industries.
Critics warn of a replay of the financial crisis in autumn 2008, when governments used taxpayer money to shore up troubled companies, then allowed them to transfer those funds to their trading partners to protect those institutions from losses.
Autumn's market mayhem has left the world's financial institutions nursing losses of $2.8tn, the Bank of England said, as it called for fundamental reform of the global banking system Shares in Asia suffered sharp falls and the FTSE 100 was down 200 points at one stage, although it ended only around 30 points lower.
