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Toddo on TV: Merrill Cuts Its Losses


Markets, movers and more.

Merrill Lynch (MER) is all over the press this morning as it announced a fire sale of mortgage debt and common stock and also took a $5.7 billion writedown. This looks bad on the surface, but Toddo notes that it may be the most constructive thing the bank can do for itself and for the financial sector. More banks, such as Citigroup (C), could follow suit.

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