More on housing loan losses

Stephanie Pomboy's MacroMavens site gave this worrying picture of banks' exposure to real estate risk, on 7 June 2005 - (I'd be grateful for an update for 2007). The Mogambo Guru recently (12 July) quoted her firm as saying (in Barron's) that $693 billion of mortgages are now in the red, with a possible $210 billion in outright losses.