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Thursday, August 21, 2008

Hard to Sell Assets

WSJ: More Broker Writedowns? You Don't Say!:

The subjects are Goldman Sachs Group Inc., Lehman Brothers Holdings Inc., and Morgan Stanley, and the shooter is Citigroup’s Prashant Bhatia, who lowered earnings estimates on all three due to the “difficult operating environment, characterized by lower client-related trading volumes and losses on hard-to-sell assets.”