Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Friday, January 11, 2008

Another Huge Write-Down Expected from Merrill

Merrill Lynch is expected to announce another huge write-down from mortgage investments next week -- $15 billion -- almost double its original estimate.  It is looking to raise about $4 billion in capital from investors and may also sell some noncore assets.  On Thursday New York's Senator Schumer expressed concern over the amount of money American financial institutions are raising from sovereign wealth funds.  To date, none of the foreign investors has asked for board representation in exchange for their investment.  NYTimes, Giant Write-Down Is Seen for Merrill

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