Friday, June 27, 2008

CNBC: Merrill to Write Down $3 to $5 Billion

by Bill McBride on 6/27/2008 08:57:00 AM

From CNBC: Merrill Likely to Write Down $3 Billion-$5 Billion

Reuters is reporting: Merrill may take $5.4 bln in Q2 writeoffs: Lehman

Merrill Lynch will likely incur $5.4 billion of write-downs in the second quarter, mainly from its exposure to monolines, said an analyst at Lehman Brothers ...
Here comes another round of visits to the confessional!