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First, the concerns over valuation could have been addressed by writing assets down by $25 billion, roughly wiping out existing shareholders.
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Ambac and MBIA wrote assets down by a combined $8.5 billion in the past quarter.The monolines' thin capital cushions, adequate when they wrote only safe municipal business, now look worryingly threadbare.
It forced banks to write assets down to market prices, even if they hadn't sold them or even if there was no market.
The PC maker is shedding staff and writing off assets.
Last week, A.I.G. posted a $7.8 billion quarterly loss after writing down assets linked to subprime mortgages.
Earlier this month, AIG posted a $7.8 billion quarterly loss, its largest ever, after writing down assets linked to subprime mortgages.
"The bear market is over," declared Peter Wuffli, UBS's chief executive.Commerzbank announced a loss of euro2.3 billion ($2.6 billion) in the third quarter, after writing down assets.
You can think of lots of ways to describe the pain debt is unwinding, investors are writing down assets, liquidity is short.
The loss included many special items, such as writing down assets that are being sold and the $45 million signing bonus given to Mr. Wendt.
AnnTaylor is writing down assets from its Web site, which failed to achieve the sales volume that had been expected before its introduction in November 2000, the company said.
In the recent quarter, Dow Jones took a charge of $10.4 million, or 12 cents a share, for cutting jobs and writing down assets related to its WSJ.com Web site.
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CEO of Professional Science Editing for Scientists @ prosciediting.com