Write-downs plague Bear, HSBC
Bear Stearns will record a $1.2 billion write-down in the fourth quarter, while HSBC will take a $3.4 billion hit.
The Bear Stearns Cos. Inc will record a $1.2 billion write-down in the fourth quarter, said chief financial officer Samuel Molinaro Jr., according to published reports.
Mr. Molinaro, presenting at the Merrill Lynch Banking and Finance Conference in New York, said that the write-down will lead the
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