Amazing isnt it.....they think its over, reminds me of when bernanke said that the sub prime fall out was well contained....ha, tough to believe the end for more writedowns is near, I dont believe it is. S&P Says End in Sight for Writedowns on Subprime Debt (Update1) By Emma Moody March 13 (Bloomberg) -- Standard & Poor's said the end is in sight for writedowns by the world's largest financial institutions. Writedowns from subprime-mortgage securities will probably rise to $285 billion, New York-based S&P said today in a report titled ``Subprime Write-Downs Could Reach $285 Billion, But Are Likely Past The Halfway Mark.'' The ratings company had previously estimated losses of $265 billion in January. S&P raised its estimate because of increased loss assumptions for collateralized debt obligations, the company said. ``The positive news is that, in our opinion, the global financial sector appears to have already disclosed the majority of valuation writedowns,'' S&P credit analyst Scott Bugie said in an accompanying statement.