LOST MILLIONS OF MERRILL LYNCH BANK
According to reports today, the newspaper El Comercio of Peru:
announced record losses Merrill Lynch for 10,000 million dollars
8:00 amortized 11,500 million dollars in bad mortgages.
The results are totally unacceptable in New York said the new president of Merrill Lynch, John Thain. The balance of 2007 yields losses of $ 8,000 million, against profits of $ 7,300 million the previous year.
Merrill Lynch lost nearly 40 percent of its market value during the last twelve months. The bank's writedowns due to subprime mortgages add up to now about 20,000 million, partially offset by fresh capital injection by the 13,000 million of the same coin.
Source: Diario El Comercio - Lima - Peru.
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