French bank Credit Agricole said it's increasing its write-downs on super-senior CDOs and because of the situation at ACA Financial Guaranty, resulting in a 1.6 billion euro ($2.3 billion) hit to 2007 results.
Bear Stearns posted its first-ever quarterly loss as the company's mortgage-related write-down grew to $1.9 billion after credit markets worsened last month. They reported a fourth-quarter loss of $854 million, or $6.90 a share. Consensus was they would come in at a loss of $1.80 a share. D'OH!
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