Morgan feels subprime pain in Q4
Mortgage-related losses took a $9.4 billion bite out of Morgan Stanley’s fourth-quarter report, the bank said yesterday.
Mortgage-related losses took a $9.4 billion bite out of Morgan Stanley’s fourth-quarter report, the bank said yesterday.
These write-downs, which were announced in November, bring the bank’s total charges for subprime mortgages to $10.8 billion.
Earnings for the fourth quarter were als
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