Thursday, Jan 17, 2008
Net Loss of $7.8bn (£3.9bn) for 2007
BBC: Merrill Lynch posts $7.8bn loss
Merrill Lynch today blamed the problems in the US Mortgage market for the loss. Company chairman and chief exec John Thain called the performance, "clearly unacceptable". My guess is that he must have been on holiday during the period that the losses were generated.
Posted by denzil @ 11:59 AM (399 views) Add Comment
2 Comments
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1. whiteknight said...
He is new. Former guy in charge was Stan O'Neal
2. inbreda said...
"Merrill Lynch today blamed the problems in the US Mortgage market ..."
Shouldn't that read:
"problems in the US Mortgage market blamed on Merrill Lynch today ..."