Merrill Lynch get their numbers wrong by a cool $3.4bn.The firm wrote off $4.5bn a couple of weeks ago, as a result of their exposure to the sub prime market, and all thought that was horrific - but yesterday they wrote off a further $3.4bn taking total write off’s to $7.9bn.

The major investment bank have now disclosed a net loss for the quarter of $2.24bn, lets hope that its thrown the whole lot in and no further surprises are to follow.

Trumpo hopes that over the coming weeks the decks are cleared by all lenders and investment banks and normality can come back into the lending markets, after all the UK economy is reliant on a stable housing market and Merrill Lynch and other Investment Banks are responsible for approaching 20% of the funding for the UK lending marketplace in some form or another.

You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.