Hello Everyone, The following Quote ex Yahoo indicates that...

Hello Everyone,

The following Quote ex Yahoo indicates that there is more Money around than some people would have us believe , in particular please note the Last Three Lines of the Quote of the Quote. $50 Mill. to $70 Mill. to completely get Molyhil
up and Running seems just ,'old P in the Ocean'

Qoute ex Yahoo FINANCE NEWS:-


Merrill Lynch still licking wounds from US subprime foray
Friday April 18, 2008, 8:15 am

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NEW YORK (AFP) - US investment bank Merrill Lynch reported its third straight quarter in the red Thursday after another massive write-down on assets from its adventure in the risky US subprime mortgage market.

The Wall Street giant said it recorded a net loss of 1.96 billion dollars for the first quarter of 2008, compared with a net profit of 2.16 billion dollars a year ago, and announced it would slash 10 percent of its workforce.

Earnings per share were 2.19 dollars, sharply higher than analysts' consensus forecast of 1.99 dollars.

It was the third loss-making quarter in a row, after a loss of 9.8 billion dollars in the 2007 fourth quarter and 2.2 billion dollars in the third quarter.

Revenue for the quarter ending March 28 fell to 2.93 billion dollars from last year's 9.6 billion as Merrill wrote down nine billion dollars in assets.

The bank wrote down some 6.6 billion dollars in soured investments related to the US mortgage market and three billion dollars on assets tied to municipal bond insurers.

"Despite this quarter's loss, Merrill Lynch's underlying businesses produced solid results in a difficult market environment," John Thain, chairman and chief executive, said in a statement.

"The firm's 82-billion-dollar excess liquidity pool has increased from year-end levels, and we remain well-capitalized," he said. --Continues // End Quote

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Regards,

moly