24/7 Wall St.
04-13-2008, 06:47 AM
24/7 Wall St. Daily News
Citigroup (NYSE: C) is expected to post write-downs of as much as $12 billion in first quarter and have a loss of over $3 billion. Merrill Lunch (NYSE: MER) could show write-offs of $5 billion and a loss of $2.7 billion. According to The Times, Merrill "is expected to knock a further 20% from the value of its sub-prime holdings, in spite of the fact that it announced $18 billion of write-downs only three months ago." The paper also reports that "Deutsche Bank is attempting to offload some of its €35 billion (£28 billion) of toxic debt to a consortium...http://feeds.feedburner.com/~f/typepad/RyNm?i=yNmNLqG</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=yNmNLqG) http://feeds.feedburner.com/~f/typepad/RyNm?i=B9dk8OG</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=B9dk8OG) http://feeds.feedburner.com/~f/typepad/RyNm?i=HyTd7ag</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=HyTd7ag)
complete story here... (http://www.247wallst.com/2008/04/merrill-lynch-m.html)
Citigroup (NYSE: C) is expected to post write-downs of as much as $12 billion in first quarter and have a loss of over $3 billion. Merrill Lunch (NYSE: MER) could show write-offs of $5 billion and a loss of $2.7 billion. According to The Times, Merrill "is expected to knock a further 20% from the value of its sub-prime holdings, in spite of the fact that it announced $18 billion of write-downs only three months ago." The paper also reports that "Deutsche Bank is attempting to offload some of its €35 billion (£28 billion) of toxic debt to a consortium...http://feeds.feedburner.com/~f/typepad/RyNm?i=yNmNLqG</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=yNmNLqG) http://feeds.feedburner.com/~f/typepad/RyNm?i=B9dk8OG</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=B9dk8OG) http://feeds.feedburner.com/~f/typepad/RyNm?i=HyTd7ag</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=HyTd7ag)
complete story here... (http://www.247wallst.com/2008/04/merrill-lynch-m.html)