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Bloodletting on Wall Street There were two noteworthy episodes last week in the continuing drama surrounding the housing market meltdown. First, the New York Times did the arithmetic and found that the Wall Street banks had already written down debts that amounted to almost half of their profits in their boom years from 2004 through the first half of 2007.

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Bloodletting on Wall Street

There were two noteworthy episodes last week in the continuing drama surrounding the housing market meltdown. First, the New York Times did the arithmetic and found that the Wall Street banks had already written down debts that amounted to almost half of their profits in their boom years from 2004 through the first half of 2007.