Merrill 3Q roiled by mortgage crisis (Lexington Herald-Leader)
Story date: 2007-10-24 07:40:59
Added on: 2007-10-24 23:16:55
Merrill Lynch & Co. on Wednesday took a $7.9 billion writedown because of the summer's credit crisis, a bigger-than-expected amount that raised the specter of more trouble ahead from risky home loans. The world's largest brokerage was caught off guard by its bad bets, leading to its first loss in six years. Merrill Lynch's quarterly performance was the worst by far of the Wall Street firms. The ...
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