So with financials taking a huge hit in the neck overnight...

So with financials taking a huge hit in the neck overnight further pushing the DOW and S&P down, and the usually predictable effect that has on our resource stocks, particularly speccies like CFR, it is perhaps worth noting the manager of the largest bond fund in the world, Gross, from Pacific Investment management, who said overnight that a total of $5 trillion mortgage loans belong to “risky asset categories.” Says there is $1 trillion to write-off in housing related losses across financial institution’s balance sheets – that implies we’re not even half-way through, having written off a total of only $468.1bn...

Fun days still ahead CFRers