Expect a lot more brackets on either side of banks' net income numbers.

In its annual review of the banking sector, Moody's Investors Service projected Tuesday that most U.S. banks will be unprofitable through 2010 as they book a whopping $470 billion in losses. The ratings agency said that the 69 financial institutions it covers are expected to set aside $600 billion in loss provisions during the next two years as they lose more money on bad commercial and consumer loans and residential mortgages.

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