11.   Divisions between the Serbs have sapped their capacity to wage war in recent months, leading to massive losses of territory in Croatia and Bosnia.

12.   Despite the potential complexity of these issues, several observers have said a strike is unlikely because of the potentially massive economic losses it would represent to both sides.

13.   From President Clinton on down, leading Democrats had looked to health care to save their party from massive losses in the November elections.

14.   Fuji Bank was forced to deny rumors of massive losses in derivatives.

15.   In addition, legions of investors and retirees have suffered massive losses in their retirement plans.

16.   It has sustained massive financial losses in recent years.

17.   Massive losses in a few high-profile hedge funds in recent years have made many pension managers nervous about diving into thesector.

18.   Prosecutors have said that Hamanaka engaged in these activities to help disguise massive copper losses incurred elsewhere at Sumitomo.

19.   Quarterly statements sent out in recent days have unveiled massive losses to many customers and were accompanied by letters seeking to soothe frayed nerves.

20.   Rosenthal wanted to create a fund that would allow insurance firms to keep offering earthquake policies with the government acting as a backstop against massive losses.