Investor’s Business Daily – Banks worldwide could lose as much as $400 bil from subprime mortgages, as at least a quarter of the riskier loans go in to default, Deutsche Bank and Bear Stearns both predicted. Analysts estimate $150 bil to $250 bil of losses based on $1.2 tril of U.S. subprime loans and an additional $150 bil of losses on derivatives linked to subprime debt. U.S. foreclosures hit record highs and investors stopped buying risky debt, forcing Citigroup , Merrill Lynch and Wachovia to write-off more than $40 billion this year.