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| By: Reuters | 24 Feb 2009 | 06:34 PM ET Merrill Lynch lost $15.84 billion in the fourth quarter, a regulatory filing showed, more than $500 million higher than the loss previously estimated by Bank of America. The quarterly loss equaled $9.95 per share for the period ended Dec. 26, 2008, according to Merrill's annual report filed on Tuesday with the U.S. Securities and Exchange Commission. Bank of America [BAC 4.73 0.82 (+20.97%) ] had on Jan. 16 estimated that Merrill lost $15.31 billion in the fourth quarter. Among the charges that Merrill Lynch took in the fourth quarter was a $2.3 billion goodwill writedown, mainly because of exposure in its fixed income, currencies, and commodities trading unit. The bank acquired Merrill on Jan. 1, 2009, creating the largest U.S. bank by assets. Later that month, Bank of America got a government bailout, including $20 billion of new capital, to help it absorb losses on some Merrill assets. Link to Article |