Subprime Mortgage Losses Nearly Done: Fitch 

The subprime mortgage mess is mostly over, as global banks have already written down more than 80 percent of their losses from subprime mortgages and related assets, Fitch Ratings said in a report released Wednesday. The rating agency estimated that total market losses from subprime mortgage assets at $400 billion, though losses could go as high as $550 billion, depending on the method of calculation used.