Merrill Lynch clobbered by credit crisis

Story date: 2007-10-23 05:58:00
Added on: 2007-10-27 05:01:34

Crain's New York Business - Bad bets on mortgage securities and leveraged loans prompted the firm to write down a bigger-than-expected $7.9 billion. Merrill Lynch & Co.'s announcement Wednesday that it would take a $7.9 billion write-off on its portfolio of subprime mortgages ...


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