(Bloomberg) -- On Wall Street, Bear Stearns Cos.,
Lehman Brothers Holdings Inc., Merrill Lynch & Co. and Goldman
Sachs Group Inc., are as good as junk.
Bonds of U.S. investment banks lost about $1.5 billion of
their face value this month as the risk of owning the securities
increased the most since at least October 2004, according to
Merrill indexes. Prices of credit-default swaps based on the
debt imply that their credit ratings are below investment grade,
data compiled by Moody's Investors Service show.
Read more at Bloomberg Currencies News
Lehman Brothers Holdings Inc., Merrill Lynch & Co. and Goldman
Sachs Group Inc., are as good as junk.
Bonds of U.S. investment banks lost about $1.5 billion of
their face value this month as the risk of owning the securities
increased the most since at least October 2004, according to
Merrill indexes. Prices of credit-default swaps based on the
debt imply that their credit ratings are below investment grade,
data compiled by Moody's Investors Service show.
Read more at Bloomberg Currencies News
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