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March 5, 2008

All Business: Watch the spin when firms 'mark to market'

  • As the value of their investments plunges firms say these holding could rebound, but that's wishful thinking.
    • By RACHEL BECK
    AP Business Writer

    NEW YORK — Financial firms plagued by massive write-downs on their mortgage-related debt are trying to convince investors their fortunes aren't as desperate as they seem.

    The corporate spin from companies like MBIA Inc., Citigroup Inc., and American International Group Inc. goes like this: The value of investments on their books may be plunging now due to the credit crisis, but things won't necessarily stay bad forever. In due time, those holdings could rebound and turn into write-ups.


     
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