Breaking News-RTRS-UPDATE 7-Morgan Stanley posts big loss; market hopes worst over
Posted by Labels: Trader's highlightNEW YORK, Dec 17 (Reuters) - Morgan Stanley
It was the bank's second loss in the last five quarters, and six times deeper than expected, driven by a laundry list of setbacks: $1.7 billion in writedowns of leveraged buyout loans, $800 million in writedowns of assets held in bank units and $1.8 billion in principal investment losses.
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