Monday, June 09, 2008

Whitney: More Write-Downs coming from Bond Insurer Downgrades

From Bloomberg: Citigroup, Merrill, UBS Face Further Writedowns, Whitney Says
Citigroup Inc., Merrill Lynch & Co. and UBS AG may post further writedowns of $10 billion on their debt holdings after the two biggest bond insurers were stripped of their AAA rankings, according to Oppenheimer & Co. analyst Meredith Whitney.
More visits to the confessional coming ...