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Merrill Lynch's Losses Cast Doubt on CEO

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Merrill Lynch's Losses Cast Doubt on CEO

Economy

Merrill Lynch's Losses Cast Doubt on CEO

Merrill Lynch's Losses Cast Doubt on CEO

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  • <iframe src="https://www.npr.org/player/embed/15673582/15673725" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
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Wall Street investment banks are releasing quarterly results this week, and the news has been alarming.

Merrill Lynch announced losses of more than $8 billion and said it had made mistakes in "assessing risk."

The investment firm's move into the subprime market was directed by its CEO. Now, there are questions about whether he can remain as the bank's top executive.

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