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Economic Impact » Article Title: Merrill Lynch, Mellon Corp, Citigroup, HSBC losses
Merrill Lynch posted a nearly $10 billion fourth-quarter loss and wrote down $14.6 billion in soured mortgage debt and other loans. The New York-based brokerage posted a net loss of $9.8 billion
Bank of New York Mellon Corp. said Thursday its fourth-quarter profit dropped 68% from a year earlier as the company took charges on collateralized debt obligations and a conduit it sponsors
Citigroup saw an $18.1bn write-down of mortgage investments (announced yesterday)
HSBC has not reported but the report will not be pretty
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