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11/23/07
Subprime-related losses fuel billions in asset write-downs
Filed under: General, Business, Mortgages
Posted by: Lillian Wong @ 1:57 pm

CHARLOTTE, N.C. - So far, at least six companies have said they expect mortgage-related write-downs in the fourth quarter, totaling nearly $23 billion - including a write-down of up to $6 billion at Morgan Stanley. More announcements are expected, since more than a dozen companies who had third-quarter write-downs have yet to say if they’ll post additional markdowns in the year-ending period.  More…

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