April 14, 2008 – 11:57 am
2008-04-14: Credit Suisse Group is set to report write downs in the range of $4 billion Swiss ($4 billion) big ones on April 24. And that is not the bad news, the bad news is that the credit crunch has a long way to go and so the associated write downs of previously generously valued securities.
Credit Suisse, which is due to announce first-quarter results on April 24, warned last month about a possible loss for the period as mispricing of debt securities would lead to writedowns.
”Mispricing”, talk about generous!
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