Credit Crisis Continues to Haunt Merrill Lynch
October 16, 2008 by Page Perry, LLC
Merrill Lynch has reported its fifth straight quarterly loss. It its most recent quarter, Merrill has taken at least $9.5 billion of write-downs resulting in a loss of $5.15 billion. Since the beginning of last year, Merrill has suffered over $50 billion in losses attributable to the ongoing credit crisis. Banks and brokerage firms worldwide have now taken more than $640 billion of write-downs and credit losses in the credit crisis.
