Read more writedowns stories on Newserhttp://www.newser.com/taggrid/19173/writedowns.html2009 - Newseren-usNewser Feed GeneratorTue, 24 Nov 2009 13:46:09 CSThttp://www.newser.com/story/52172/markets-dive-as-hsbc-shuts-us-business-axes-6100.html?utm_source=syn&utm_medium=rss&utm_campaign=tagEuropean and Asian markets took a nosedive today, and HSBC announced it will sell $17.8 billion in new stock in the largest rights issue in British corporate history. Europe's largest bank ended last year in the black, posting a $9.3 billion profit. But HSBC wrote off $10.6...http://www.newser.com/story/52172/markets-dive-as-hsbc-shuts-us-business-axes-6100.html?utm_source=syn&utm_medium=rss&utm_campaign=tagMon, 02 Mar 2009 3:47:46 CSThttp://www.newser.com/story/49852/time-warner-posts-16b-loss-on-declining-media-value.html?utm_source=syn&utm_medium=rss&utm_campaign=tagTime Warner reported a shattering fourth-quarter loss of $16 billion, prompted by plunging ad sales and a $25 billion goodwill writedown to reflect the decline in cable, publishing, and Internet assets, Bloomberg reports. While the media conglomerate took a hit from plummeting revenue at AOL and its magazines, rising revenue...http://www.newser.com/story/49852/time-warner-posts-16b-loss-on-declining-media-value.html?utm_source=syn&utm_medium=rss&utm_campaign=tagWed, 04 Feb 2009 6:18:19 CSThttp://www.newser.com/story/48566/prof-does-math-finds-banking-system-insolvent.html?utm_source=syn&utm_medium=rss&utm_campaign=tagA New York University professor who predicted the current economic crisis warns that losses at US banks could climb to $3.6 trillion, leaving the whole system essentially bankrupt, Bloomberg reports. Economist Nouriel Roubini argues that since the system has a base capitalization of just $1.4 trillion, if losses...http://www.newser.com/story/48566/prof-does-math-finds-banking-system-insolvent.html?utm_source=syn&utm_medium=rss&utm_campaign=tagWed, 21 Jan 2009 13:37:56 CSThttp://www.newser.com/story/42300/fannie-mae-posts-stunning-losses.html?utm_source=syn&utm_medium=rss&utm_campaign=tagFannie Mae lost more in the third quarter of this year than it gained from soaring house prices between all of 2002 and 2006, the New York Times reports. The massive $29 billion loss, mainly from asset writedowns, means the company may need more than the $100 billion pledged from...http://www.newser.com/story/42300/fannie-mae-posts-stunning-losses.html?utm_source=syn&utm_medium=rss&utm_campaign=tagMon, 10 Nov 2008 17:00:00 CSThttp://www.newser.com/story/40617/wachovia-takes-massive-239b-3rd-quarter-loss.html?utm_source=syn&utm_medium=rss&utm_campaign=tagWachovia reported losses of $23.9 billion in the third quarter, a whopping hit of $11.18 per share that blew by analysts’ estimates of a 2-cent-per-share loss, reports Bloomberg. But Wachovia’s loss—virtually all tied to mortgages or mortgage-related securities—may be Wells Fargo’s gain.http://www.newser.com/story/40617/wachovia-takes-massive-239b-3rd-quarter-loss.html?utm_source=syn&utm_medium=rss&utm_campaign=tagWed, 22 Oct 2008 8:40:46 CDThttp://www.newser.com/story/40112/citi-losses-less-than-expected-merrill-drops-5b.html?utm_source=syn&utm_medium=rss&utm_campaign=tagA pair of earnings reports from Citigroup and Merrill Lynch for the third quarter shows just how deeply wounded the big brokerage is, while painting a slightly brighter picture for the big bank, reports Bloomberg. Citi, the nation’s largest bank, beat analyst expectations with a net loss of $2.8...http://www.newser.com/story/40112/citi-losses-less-than-expected-merrill-drops-5b.html?utm_source=syn&utm_medium=rss&utm_campaign=tagThu, 16 Oct 2008 7:20:01 CDThttp://www.newser.com/story/37453/markdown-sparked-lehman-meltdown-more-to-come.html?utm_source=syn&utm_medium=rss&utm_campaign=tagWhat caused two venerable investment banks to implode this weekend, and how much more damage can we expect? It started when Lehman Bros. surprised markets by slashing the valuation of its mortgage holdings last week, making downward revisions so steep that "even longtime bears on the stock thought the firm...http://www.newser.com/story/37453/markdown-sparked-lehman-meltdown-more-to-come.html?utm_source=syn&utm_medium=rss&utm_campaign=tagMon, 15 Sep 2008 9:38:16 CDThttp://www.newser.com/story/37092/lehman-to-sell-off-assets-faces-record-39b-loss.html?utm_source=syn&utm_medium=rss&utm_campaign=tagFacing a record third-quarter loss of $3.9 billion, beleaguered investment bank Lehman Brothers is planning a fire sale of assets to help shore up its sagging capital base, reports the Wall Street Journal. The company said it would spin off its commercial real estate holdings, and auction of a...http://www.newser.com/story/37092/lehman-to-sell-off-assets-faces-record-39b-loss.html?utm_source=syn&utm_medium=rss&utm_campaign=tagWed, 10 Sep 2008 8:09:11 CDThttp://www.newser.com/story/35439/secret-lehman-sale-talks-fail.html?utm_source=syn&utm_medium=rss&utm_campaign=tagSecret talks earlier this month to sell up to half of struggling US investment bank Lehman Brothers to South Korean or Chinese buyers fell apart after last-minutes squabbles over details, the Financial Times reports. The bank, which is expected to announce up to $4 billion in writedowns next month, was...http://www.newser.com/story/35439/secret-lehman-sale-talks-fail.html?utm_source=syn&utm_medium=rss&utm_campaign=tagThu, 21 Aug 2008 9:48:27 CDT