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      "text": "Given the lack of controls exhibited by these charges, it is not surprising that Investment Management has had sub-30% margins",
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      "text": "$414mm in securities lending charges. Cash contribution/reserve costs; $120mm potential losses in suit.",
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      "text": "$650mm in charges related to impaired collateral in customer accounts. $450mm investment account infusion; $200mm customer indemnification.",
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      "text": "80% of these charges ($1.6bn) allocated to Investment Management, contributing to sub-30% margins.",
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      "text": "Numerous ongoing investigations and lawsuits regarding foreign exchange services, including a $12mm settlement with the State of Washington.",
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      "text": "Approximately $850mm in legal provisions related to SSgA actively managed fixed income funds. $600mm in 2007 for lawsuits; $250mm to settle regulatory inquiries.",
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      "text": "Source: SEC filings, investor conference calls. (1) See September 30, 2007 earnings call.",
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