Wednesday, October 15, 2008

State Street reports earnings

Before the $2 billion financial injection from Treasury, the shorts would be jumping all over this line in the press release:

Mr. Logue said illiquidity in the third quarter drove State Street's mark-to-market losses to increase to $3.3 billion in its investment portfolio and $2.1 billion in its asset-backed commercial paper conduits. "However, as we have said in the past, the asset quality of both our investment portfolio and the conduit program remains high," Mr. Logue added.
http://online.wsj.com/article/SB122406548856835669.html?mod=testMod

Now, however, the shorts are neutered.

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