by Calculated Risk on 4/11/2008 01:49:00 PM

From Reuters: Japan's Mizuho stung by $5.5 billion in subprime pain (hat tip learning james)

Japan's Mizuho Financial Group Inc (8411.T) cut a third off its earnings estimate for the year just ended, stung by $5.5 billion in subprime-related losses, mostly at its brokerage arm.

The losses are everywhere - from Wall Street, to a small town in Norway, to banks in Japan.