Today maryl lynch reported a net loss from continuing operations for the second quarter of 2008 of $4.6 billion, primarily due to the continued decline in value of mortgage-related assets and the deterioration in the credit quality of the monoline insurers.
ml have taken a number of steps to address this loss.
First, it completed the sale of our 20 percent ownership stake in Bloomberg, L.P. for $4.425 billion.
Second, it announced the expected sale of a majority stake in Financial Data Services. In aggregate, these deals are valued at approximately $8 billion.
Third, it have achieved significant reductions in many of our risk exposures.
Fourth, it increased our liquidity to a record $92 billion and exceeded our targets on cost-saving initiatives.
In spite of the difficult market conditions, ml delivered revenues of $7.5 billion before marks, credit valuation adjustments and fair value gains, up slightly from the first quarter.
1 comment:
sauron gets killed by a girl da
u need not worry abt that
coz finally subash has come back to save you.
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