Merrill Lynch (MER) And Citigroup (C) Expected To Post Massive Write-Downs

Banking, finance, and taxes

Published: April 13, 2008 5:25 am

Citigroup (NYSE: C) is expected to post write-downs of as much as $12 billion in first quarter and have a loss of over $3 billion. Merrill Lunch (NYSE: MER) could show write-offs of $5 billion and a loss of $2.7 billion. According to The Times, Merrill "is expected to knock a further 20% from the value of its sub-prime holdings, in spite of the fact that it announced $18 billion of write-downs only three months ago."

The paper also reports that "Deutsche Bank is attempting to offload some of its €35 billion (£28 billion) of toxic debt to a consortium of private-equity firms."

Douglas A. McIntyre

Are You Ahead, or Behind on Retirement? (sponsor)

If you’re one of the over 4 Million Americans set to retire this year, you may want to pay attention.

Finding a financial advisor who puts your interest first can be the difference between a rich retirement and barely getting by, and today it’s easier than ever. SmartAsset’s free tool matches you with up to three fiduciary financial advisors that serve your area in minutes. Each advisor has been carefully vetted, and must act in your best interests. Start your search now.

Don’t waste another minute; get started right here and help your retirement dreams become a retirement reality.