Merrill Expected to Announce $7 Billion Losses

The word is that Merrill Lynch will soon announce that its third quarter losses are even greater than the previously announced $5 billion and will, in fact, exceed $7 billion.  Merrill CEO Stanley O'Neal joins Citigroup CEO Charles Prince on the hot seat, as doubts continue about Merrill's ability to manage its risk.  WSJ, Merrill Loss May Be Wider Than Projected;NYTimes, Merrill Lynch to Report $2.5 Billion in Added Loss.