Released on: November 26, 2007, 9:49 pm

Press Release Author: Investline

Industry: Financial

Press Release Summary: According to sources close to the Valencia based firm,
Atlantis Financial have recently reported that lenders are also posting huge losses
as the easy money lending spree that fuelled the housing boom continues to unwind.


Press Release Body: Apparently, reports by Atlantis Financial have revealed that
this month alone many major banking companies including Citigroup, Merrill Lynch,
Morgan Stanley and Bank of America have reported billions in losses on investments
backed by mortgages.

In addition, sources say that Atlantis Financial's researchers have found that
losses from the current turmoil in the mortgage market could eventually approach
those seen in the late 1980s, when the savings and loan industry collapsed under
heavy wave of real estate defaults.

A spokesman for Atlantis Financial reportedly stated that this time around, bad
mortgage debt may cost banks as much as $400 billion by the time the credit crisis
is over.

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