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July 25, 2008
NatCity Sees Big Loss on 'Liquidating Portfolio'
National City Corp., Cleveland, lost $1.8 billion ($2.45 per share) in the second quarter, driven by a $1.6 billion loss provision related to broker-originated home equity, subprime mortgage, and construction loans to individuals.
Posted by S. Germain at July 25, 2008 08:17 AM