Goldman Sachs report: Heavier writedowns coming

There's a certain Wall Street cynicism at play when it comes to Goldman Sachs research. A lot of people assume that a really bearish report signals a large short position by the firm. Witness its recent report on housing and the controversy that caused. For what it's worth, a recent report by Goldman economist Andrew Tilton suggests that total losses by U.S. institutions will hit $460 billion. That's more than double the amount written off already, according to Financial News Online. Half of the upcoming losses will stem from mortgage products. Up to one-fifth might come from commercial mortgages.  

For more:
- here's the Financial News Online article

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