Merrill Lynch Reports $2B in First-Quarter Losses

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.

Comments

 

Please keep your community civil. All comments must follow the NPR.org Community rules and terms of use, and will be moderated prior to posting. NPR reserves the right to use the comments we receive, in whole or in part, and to use the commenter's name and location, in any medium. See also the Terms of Use, Privacy Policy and Community FAQ.