by Calculated Risk on 12/19/2007 10:11:00 AM

From MarketWatch: Morgan Stanley write-downs grow by $5.7 billion

Morgan Stanley said Wednesday it's writing down an additional $5.7 billion of mortgage-related assets, taking the total fourth-quarter loss to nearly $10 billion in the latest sign that the credit crunch is worsening.
...
New York-based Morgan Stanley booked the additional $5.7 billion of write-downs in November.
...
Morgan Stanley blamed the $9.4 billion total write-down on "the continued deterioration and lack of liquidity in the market for subprime and other mortgage-related securities since August."

MarketWatch has a chart of the Bankers' Writedowns ($70 Billion so far) and much more to come.

The confessional is very busy.