Goldman Sachs to write-down US$3 BILLION!!!
 

Goldman Sachs (NYSE: GS) will take a $3 billion write-down when its announces its quarterly results, according to the Telegraph. That will cut the firm's first quarter earnings by 50%.

http://www.247wallst.com/2008/03/goldman-sachs-g.html

This is just the beginning!

oh shit look for another decline on Tuesday morn trades

Just four days ago Bear Stearns Chief Executive Alan Schwartz assured Wall Street that his company was not in trouble .... management needs investigated by the SEC and should face criminal charges and prison.

JPMorgan's acquisition of Bear Stearns represents roughly 1 percent of what the investment bank was worth just 16 days ago. It marked a 93.3 percent discount to Bear Stearns' market capitalization as of Friday, and roughly a 98.8 percent discount to its book value as of Feb. 29.

scary shit

get ready for a major meltdown it seems over the next few weeks.

I will guess the $ will be taking another hit too :(