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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: redfrecknj who wrote (87891)	10/24/2007 12:43:31 AM
From: CalculatedRisk	of 110194

WSJ: Merrill Loss May Be Wider Than Projected online.wsj.com Merrill Lynch & Co. is expected to announce its third-quarter losses are more than $2 billion more than first projected, ratcheting up the pressure on Chief Executive Stan O'Neal to demonstrate he has a grip on the firm's risk level. Merrill announced on Oct. 5 that it expected to write down $5 billion for the quarter that ended in September, the biggest such loss of any Wall Street firm, based mainly on an over-exposure to risky mortgage-related securities. But the actual write-down is expected to come in far above that initial estimate, with outsiders putting the level at $7 billion or higher.

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