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Another Down Dow Day!

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DEP
Super Contributor
Look what the main cause again ----> Oct. 24 (Bloomberg) -- Merrill Lynch & Co. reported its first quarterly loss in six years after a larger-than-forecast $7.9 billion of writedowns for subprime mortgages and asset- backed bonds, the highest reported by any Wall Street firm.
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4 REPLIES 4
scandal
Super Contributor
what do you think it will mean for sa banking shares.. down?
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Not applicable
Is that not the reason for Std Bank's cautionary? Taking over Merril to show them how banking should be done? We can play rugby so why not banking? LOL.
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DEP
Super Contributor
Banking shares are relying on "possible good news" coming out of SBK on friday, on the other hand CPIX today is a bad number. Banks are anybody guess at this stage....
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kwagga
Super Contributor
Well, woopie doo, serve them right. Merrill Lynch that is. They are nothing more than bloody money leashes that feed on anything that looks like money, whatever the package. The financial institutions in the US will ultimately lead to a stock market crash and US recession
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