by Calculated Risk on 11/13/2007 11:35:00 AM

From John Spence at MarketWatch: Bank of America sees $3 bln in CDO mark-downs

Bank of America ... said it's currently estimating a $3 billion pretax charge in the fourth quarter to mark down collateralized debt obligations, or CDOs.
...
"As market conditions change and possibly worsen there could be additional diminution in value," [Chief Financial Officer Joe Price] warned.