Writedown News: 7 Jul 2008

By Edward Harrison On Jul 7, 2008

Below are the latest writedown stories from the web. For the full timeline of news, visit my credit crisis timeline.

2008 06 23 Citigroup and Goldman Sachs cut more staff as effect of credit crunch lingers
2008 06 26 Fortis launches urgent €1.5bn cash call
2008 06 27 AIG Poised to Absorb $5 Billion Losses From Securities-Lending
2008 06 30 Florida Sues Countrywide
2008 07 01 Subprime Losses Hit Development Bank of Japan
2008 07 03 Marshall & Ilsley Announces 2008 Q2 Provision of up to $900 Million
2008 07 04 UBS Says It May Avoid Loss, Doesn’t Need More Capital
2008 07 04 Bradford & Bingley Investors on the Hook as TPG Walks
2008 07 05 UBS piles $7.5bn on to its writedown bill
2008 07 06 Grossbanken werden massiv eingeschränkt (translation here)

Edward Harrison 7783 posts 575 comments

Edward Harrison is a senior Editor at Bloomberg. He is also the founder of Credit Writedowns newsletter, a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.

News Round-Up: 7 Jul 2008

Germany is definitely on the ropes

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