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Thursday, April 24, 2008

Credit Suisse: $5.2 Billion in Write-Downs

by Calculated Risk on 4/24/2008 09:20:00 AM

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.
...
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.
A few billion more.