Swiss banking giant UBS joined Merrill Lynch at the bottom of the credit related write-down pile with the release of its earnings Tuesday. The damage: $4.4 billion in credit-related write-downs, wiping out all of the...
Stan O’Neal opened Merrill Lynch’s earnings call by not beating around the bush: The firm had a net loss of $2.3 billion, due largely in part from $7.9 billion in write-downs related to exposure to sub...