Securitization

Japan’s Mizuho Warns on U.S. Subprime Mortgage Losses 

If you ever wanted to know just how far the U.S. mortgage mess reaches, look no further than Japan’s second-largest bank, Mizuho Financial Group, Inc [stock MFG][/stock]. The bank warned Friday that its securities trading unit lost 400 billion yen ($3.96 billion) in the twelve month period ending March 31; more than 209 billion yen ($2.1 billion) of that loss came since January 1st, the company said.