For three years its investment strategy worked brilliantly, but its investments soured this year.

An earlier investment in Ghana soured, potentially costing the company $150 million.

It is not clear how many of those investments have soured since last August's fiscal collapse, because most of their books are not open.

When the investments soured, Mr. Daggett "didn't tell me, and then he just dropped me completely," Monsignor Mardelli said.

But investors found as the investments soured that the partnerships were highly risky and extremely illiquid.

Its overseas investments soured, and its latest phones failed to catch on with finicky consumers.

When British Telecom reduced its initial offer for MCI, Salomon's investments soured.

Though lucrative for a time, the investment soured and in 1970 the giant railroad filed for bankruptcy.

For the savings and loans, the strategy backfired when their investments soured.

And despite the assurances of safety, the investments soured, causing losses of some $5 billion.