S&P Says End In Sight For Wall Street Write-Downs

Law360, New York (March 14, 2008, 12:00 AM EDT) -- Wall Street's nightmarish era of massive multibillion-dollar write-downs tied to the subprime crisis may be over sooner rather than later, according to a Standard & Poor's report published Thursday.

Standard & Poor's Ratings Services predicted more write-downs of subprime asset-backed securities in Wall Street's future but said the bulk of them may be past.

“The positive news is that, in our opinion, the global financial sector appears to have already disclosed the majority of valuation write-downs of subprime ABS,” S&P said in its report.

Write-downs of...
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