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January 20, 1995 | From Times Wire Services
Bankers Trust New York Corp., a top dealer in derivative securities, reported a 40% drop in fourth-quarter earnings and disclosed that it wrote off $72 million in bad deals on the arcane investments. Meanwhile, General Electric Co. reported a 48% drop in fourth-quarter earnings after writing off $917 million on the sale of its Kidder Peabody brokerage. Bear Stearns Cos.' second-quarter earnings were down 75.6%. Bankers Trust's disclosure of its write-off surprised analysts.
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