Merrill Lynch posts steep Q3 loss, roiled by mortgage and credit crisis (MSN Money Canada)
Story date: 2007-10-24 06:42:03
Added on: 2007-10-24 23:16:54
Bad bets on mortgage securities and leveraged loans used for corporate takeovers caused it to post its first loss in six years. The blow makes Merrill Lynch the hardest-hit investment bank on Wall Street amid the recent market turmoil.
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