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Few loans cause many losses

About 20% of the loans in the subprime market "cause more than half the losses.

-- Goldman Sachs Group Inc. fixed-income strategist Michael Marschoun.

We hope this is an ex ante statement. Ex post, we would think that fewer
than 8% of all mortgages cause 100 % of losses.

Cited in
Home Lenders Cut the Flow Of Risky Loans
Default Fears Drain Subprime Pool, Adding To Pressures on Prices
By RUTH SIMON, JAMES R. HAGERTY and MICHAEL CORKERY
February 26, 2007; Page C1

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