Results were hurt by a $352 million loss the company took in writing down the value of its subprime holdings.
That included a hit of 534 million euros it took in writing down the value of its Greek bond holdings in the second quarter of 2011.
We do know that banks in Europe were less aggressive in writing down bad debts and are highly leveraged relative to their global peers.
Of the £10.2 billion pre-tax loss announced by mmO2, almost £6 billion went in writing down the value of 3G licences in Britain and Germany.
"There is 100 times as much money lost in foreclosure sales as there was in writing down balances in modifications," Mr. White said.
But Oppenheim feels both have proven themselves the most realistic in writing down the value of their landholdings.
In phase one (the idea-generation phase), some participants where assisted by the researcher in writing down their ideas, i.e. the participants formulated the idea and the researcher wrote it down for them.
I believe in writing down real notes and thinking it through for next time.
In writing down Equation (12), we have made the approximation that the total population size is unconstrained and that different branches of the tree do not interact.
We noticed that the participants could easily relate to the hypertension consultations and generally did not have any difficulties in writing down their feedback.
For many people there is a sense of satisfaction in writing down results by hand.
