Ready for another wave of writedowns? Deutsche Bank analyst Mike Mayo is. On the heels of Monday’s messy news from Merrill Lynch (MER), which sold a huge portfolio of collateralized debt obligations at a big loss and raised yet more capital to offset its latest round of mortgage-related losses, Mayo is forecasting that Citi (C) [...]
Posts Tagged as ‘Bank Losses’
June 4, 2008
Bank of America: “Not Making Wachovia’s Mistake”?
(From New York Times Article)
CHARLOTTE, N.C. (AP) — It’s the most basic rule of investing: Buy low, sell high. Former Wachovia Corp. chief executive Ken Thompson couldn’t escape his disastrous decision to buy Golden West Financial Corp. for roughly $25 billion at the height of the nation’s housing boom. He was pushed out Monday, the [...]
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