Author: 123jump.com Staff
123jump.com
Last Update: 9:48 AM EDT April 17 2008
Merrill Lynch continues to suffer from lack of appropriate risk control, lethargic management structure and falling market values of securities for which it has no insurers. Merrill Lynch reported first quarter revenue decline of 69% to $2.94 billion and net loss of $2.14 billion. Loss per share in the quarter was $2.19 compared to net income of $2.50. Merrill still suffers from high asset leverage and elevated compensation costs. Merrill wrote down $9 billion of assets.
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