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IPFS News Link • Economy - Economics USA

UPDATE: Merrill Lynch Posts $4.7 Billion Loss As Write-Downs Climb

• money.cnn.com
The investment bank wrote off another $9.75 billion in value of complex securities, bad hedges with shaky bond insurers, mortgage-related assets and high risk loans. That brought Merrill's total write-downs in the year-old credit crisis to about

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