by Calculated Risk on 4/24/2008 09:20:00 AM
Thursday, April 24, 2008
Credit Suisse: $5.2 Billion in Write-Downs
From the WSJ: Credit Suisse Swings to Large Loss, Taking $5.2 Billion in Write-Downs
Credit Suisse Group Thursday said it swung to a worst-than-expected first-quarter net loss after taking 5.3 billion Swiss francs ($5.2 billion) in write-downs for big buyout loans and mortgage securities.A few billion more.
...
Credit Suisse took the bulk -- 2.66 billion francs -- of write-downs for collateralized debt obligations, but also marked down 1.68 billion francs for buyout loans granted but failed to sell to investors, as well as 944 million francs for mortgage securities.