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.

Now, however, the shorts are neutered.

No comments: