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Merrill Lynch Reports $2B in First-Quarter Losses

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Merrill Lynch Reports $2B in First-Quarter Losses

Business

Merrill Lynch Reports $2B in First-Quarter Losses

Merrill Lynch Reports $2B in First-Quarter Losses

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  • <iframe src="https://www.npr.org/player/embed/89713230/89713205" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
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One of the country's biggest investment firms, Merrill Lynch, on Thursday announced net losses of nearly $2 billion for the first quarter of the year. The losses are due to bad investments in the mortgage market — and come on top of last year's record losses as a result of the housing market meltdown. Merrill's CEO John Thain is now trying boost confidence among shareholders.