Forex Headlines Merrill Lynch Loss, Citigroup,JP Morgan
The big wall street bank Merrill Lynch announced losses of $7.8bn for 2007. Sub-prime mortgages were once again responsible for a huge loss of investments.
Other banks such as Citigroup and JP Morgan have already announced losses due to the mortgage crisis and loan sector.
JP Morgan had earnings fall a dramatic 34% whilst Citigroup have already reported a $9.83bn loss.