Author: 123jump.com Staff
123jump.com
Last Update: 8:47 AM EDT April 24 2008
Despite the quarterly loss, the financial services company’s underlying businesses posted solid results in a difficult market environment. The firm’s $82 billion excess liquidity pool has increased from year-end levels and the entity remains well capitalized. Q1 fiscal 2008 net revenues were $2.9 billion, a decrease of 69% from the prior year period due to net write-downs of $1.5 billion related to the U.S. ABS CDOs.
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