Merrill takes $7.9B mortgage hit (CNN Money)
Story date: 2007-10-24 01:22:17
Added on: 2007-10-24 12:28:00
Merrill Lynch & Co. Inc. took a $7.9 billion writedown in the third quarter due to bad mortgage bets, well exceeding its initial estimates and raising questions about whether the worst is over for the Wall Street firm.
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