Total Subprime Losses $285b or $1t?

Standard and Poors said mortgage write-downs could hit $285 billion. This is higher or lower than previous estimates because nobody knows. Just like nobody can predict a recession, note even the Fed, nobody really knows the true extent of the credit crunch. The only way to rebuild it is to start with good credits at the root level. From a mortgage standpoint, this means lower LTV conservative loans for borrowers. These are the only credits that will have much secondary market credibility in the coming quarters and years.