ajhaveri's link blog - subprime

Merrill Lynch Posts Wide Loss, Discloses Bigger Write Downs

...and the banking crisis gets worse...

Merrill Lynch & Co. swung to an unexpectedly deep loss in the third quarter on the back of a 7.9 billion writedown in its fixed-income trading business, a hit that exceeded the Wall Street giant's net earnings for all of 2006.

source: online.wsj.com | posted on: October 24th, 2007 07:10:06 AM MST | posted: 1 time(s)

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