Thursday, July 17, 2008

Write-Down of the Day

Merrill Lynch writes down $9.75 billion. Repeat, $9.75 billion.

Here's the breakdwon: $3.5 billion in write-downs on collateralized debt obligations, a $2.9 billion loss related to hedges with financial guarantors, a $1.7 billion write-down on the investment portfolio of Merrill Lynch's U.S. banks, and $1.3 billion write-down related to residential mortgage exposures and a $348 million write-down related to leveraged finance commitments.

No comments:

Post a Comment