yea something they said in their conference call, right at 955-10 the stock just
fell off of the map, up 2 dollars one minute, down 4 dollars 5 minutes later

fitch has threatened to cut its ratings on subprime exposure that it has


Fitch may cut State Street ratings on subprime exposure
11:27a ET April 15, 2008 (MarketWatch)
SAN FRANCISCO (MarketWatch) -- Fitch Ratings said Tuesday it may downgrade the
ratings of State Street Corp. after the firm announced unrealized losses in its
investment portfolio increased substantially over the last quarter. Fitch has a
AA- long-term issuer default and long-term senior rating on State Street along
with a short-term IDR of F1 . Fitch said it will resolve the review of the
ratings over the next few quarters. The rating agency noted that State Street
has "significant holdings of asset-backed securities, including about $5.9
billion of securities backed by subprime residential mortgage loans," and
that "the potential for future impairment could be significant as the
length of time that the securities have been depreciated increases."

Got to love them mark to market. Get the bad out. Maybe than can write it up
in the future. Mark to market will get us out of this mess. No more mark to
model.

talking about $1.5 billion of mark-to-market losses on SIV/conduits.