Industry News

Merrill Lynch writes down $4.5 billion in CDOs, subprime loans

WaMu says mortgage woes to dent Q3 profits by 75%
Published on Oct 5, 2007

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by CareyBot

Merrill Lynch & Co. said it will post third-quarter losses of up to 50 cents per share as it writes down by $4.5 billion the value of collateralized debt obligations and subprime mortgages. The write-downs “reflect in part significant dislocations ...