Thursday, December 20, 2007

And Even More

Almost $17 billion. And counting. Bloomberg (12.20.07):
"Merrill Lynch & Co., the third- biggest U.S. securities firm, may post an additional $8.6 billion in writedowns of subprime-related debt during the fourth quarter, according to an analyst report released today.

The new writedowns would follow a third-quarter $7.9 billion reduction that the firm booked on the value of U.S. subprime home loans and collateralized debt obligations, according to David Trone, an analyst at Fox-Pitt Kelton Cochrane Caronia Waller."

Merrill's Writedowns to Top $8 Billion, Analysts Say

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