"The meltdown in the subprime mortgage market is like watching a slow-motion train wreck," wrote Brad Hintz, an analyst at Sanford C. Bernstein.
Hintz wrote that, among Wall Street investment banks, Bear Stearns (Charts) and Lehman Brothers (Charts) face greater earnings exposure to the sector than Goldman Sachs Group Inc. (Charts), Merrill Lynch & Co. and Morgan Stanley
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