Six weeks ago, on November 7, Morgan Stanley indicated it was taking a write down of $3.7 billion of subprime assets based on valuations as of October 31. It has now taken another $4.1 billion of write downs based on subprime trading positions on November 30, taking the total to $7.8 billion. It has attributed the situation to the ôdeterioration and lack of liquidity in the market for subprime and other mortgage-related securities since August 2007ö.
The $9.4 billion also includes $1.2 billion of write...
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