Morgan's HELOC Woes Not Shared by Rivals

Bove estimates Morgan's losses of "maybe hundreds of millions of dollars," as opposed to billions, he says.

"The bigger question is whether Morgan is going to have to do something like Merrill or what Lehman has to do," in terms of raising capital and/or selling troubled loans and securities at a discount, he says. "That would worry me more than what hit they take on home equity."

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