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Stanley Black & Decker Inc

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  • Merrill And Consumer Slowdown Hit Market Wednesday, 24 Oct 2007 | 9:16 AM ET

    Call it an ugly mortgage market, call it poor risk management. But Merrill's writedown of $7.9 billion in subprime mortgages and collateralized debt obligations (CDOs), $3.4 billion more than they had previously announced just three weeks ago, was being greeted as a sign that plenty more bad news remains on banks' and brokers' books.