Merrill Lynch takes $7.9B loan hit
Story date: 2007-10-24 05:43:00
Added on: 2007-10-24 23:16:58
CNN - Inc. took a $7.9 billion writedown in the third quarter due to bad mortgage bets, well exceeding its initial estimates and ... The Wall Street firm said Wednesday heavy losses on home loans given to borrowers with poor credit, and collateralized ...
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