by Calculated Risk on 6/09/2008 09:43:00 AM

From Bloomberg: Citigroup, Merrill, UBS Face Further Writedowns, Whitney Says

Citigroup Inc., Merrill Lynch & Co. and UBS AG may post further writedowns of $10 billion on their debt holdings after the two biggest bond insurers were stripped of their AAA rankings, according to Oppenheimer & Co. analyst Meredith Whitney.

More visits to the confessional coming ...