November 14, 2007

Mortgage writedowns continue at banks (AP)

People enter and exit the Bear Stearns corporate headquarters in New York in this July 18, 2007 file photo.  The investment bank will take a $1.2 billion writedown in the fourth quarter related to weakness in its credit portfolios, and investor relief at the size of the writedown drove shares sharply higher Wednesday, Nov. 14, 2007.  (AP Photo/Mark Lennihan, file)AP – Billions of dollars in mortgage losses reported during the third quarter could be a prelude to even bigger losses in the fourth quarter, as two more financial institutions warned of substantial writedowns on Wednesday.

Permalink • Print

Trackback uri

http://www.jolinszsells.com/224/mortgage-writedowns-continue-at-banks-ap/trackback/