IN BRIEF (Page 17)
China Daily | Updated: 2008-06-19 07:45
Writedown warning
John Paulson, founder of hedge fund Paulson & Co, said global writedowns and losses from the credit crisis may reach $1.3 trillion, exceeding the International Monetary Fund's $945 billion estimate.
"We're only about a third of the way through the writedowns," Paulson said, speaking at a hedge fund conference in Monaco yesterday. "There are a lot of problems out there and it will continue to be felt through the year. We don't see any signs of stabilizing."
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