by Calculated Risk on 11/19/2007 02:20:00 PM

We believe ... the industry will suffer $148 Billion total losses related to CDOs, to date we've accounted for roughly about $40 billion of those, so we're estimating another $108 billion in writedowns over the next several quarters.
Goldman Sachs, Nov 19, 2007

Most of this call is company specific (like Citi), however the bearish comments on the credit crunch, housing and states currently in or near recession are worth noting.

House prices have 13% to 14% to fall from current level.
Goldman Sachs, Nov 19, 2007

GS Conference Call
US Financial Services: Mortgage Fall Out Has More To Go
Monday, November 19th, 2007
11:00am EDT

Hosted by:
Lori Appelbaum and others
Replay: 800-332-6854 (Domestic)
973-528-0005 (Int'l)
Replay Code: 707854

UPDATE:

Eight states ... for which there is greater than 30% house price depreciation forecast would be California, Florida, Arizona, Nevada, Virginia, New Jersey, Maryland, and Washington D.C. ... 13% to 14% nationally masks some states that we have accute concerns.
Goldman Sachs, Nov 19, 2007