Blackstone COO: No clear picture on mortgage hole

NEW YORK (Reuters) - Blackstone Group (BX.N: Quote, Profile, Research, Stock Buzz) President and Chief Operating Officer Hamilton James said on Monday bank executives don't have a clear picture of how the mortgage "black hole" would play out.

James, who was speaking on a conference call to analysts after announcing quarterly results, added that only 15 percent to 20 percent of bank losses were related to leverage finance, with the remainder being mortgage related.

(Reporting by Michael Flaherty and Megan Davies, editing by Mark Porter)