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Reload this Page Merrill Lynch in talks to merge with B of A!!! (bankrupt, mortgage)
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Old 09-14-2008, 06:43 PM
 
Location: Sherman Oaks, CA
6,587 posts, read 17,598,802 times
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Bank of America Eyes Merrill - WSJ.com

I'm no huge fan of Bank of America; is this Merrill Lynch's "white knight" of last resort?
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Old 09-14-2008, 06:44 PM
 
Location: Hope, AR
1,509 posts, read 3,091,266 times
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Didn't BOA just take over Countrywide?

Quote:
Originally Posted by SandyCo View Post
Bank of America Eyes Merrill - WSJ.com

I'm no huge fan of Bank of America; is this Merrill Lynch's "white knight" of last resort?
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Old 09-14-2008, 06:46 PM
 
Location: Sherman Oaks, CA
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Yes, they did... I hope B of A is well capitalized enough to deal with all of the toxic mortgage products it's inheriting from both companies.
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Old 09-14-2008, 06:47 PM
 
Location: Hope, AR
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we'll see
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Old 09-14-2008, 06:56 PM
 
Location: In my playhouse.
1,047 posts, read 2,792,577 times
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Quote:
Originally Posted by SandyCo View Post
Yes, they did... I hope B of A is well capitalized enough to deal with all of the toxic mortgage products it's inheriting from both companies.
Oh my, hope is about all we have right now. I don't feel comfortable that anyone knows the extent of the toxic mortgages lining up to be dealt with.
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Old 09-14-2008, 06:58 PM
 
Location: Hope, AR
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I don't think they would get into that right now if it would hurt them. They must be pretty sure it's safe.
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Old 09-14-2008, 06:59 PM
 
Location: Sputnik Planitia
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Bank of America has just reached a deal to acquire Merill at $29/share, on CNBC right now!!!
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Old 09-14-2008, 07:01 PM
 
20,184 posts, read 23,938,777 times
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Quote:
Originally Posted by SandyCo View Post
Yes, they did... I hope B of A is well capitalized enough to deal with all of the toxic mortgage products it's inheriting from both companies.
I believe B of A were planning on doing something to get away from the toxic mortgages... they had a dummy company buy Countrywide then bankrupt them both and then buy them (and Countrywide) so that they didn't inherit the toxic products... they gave those toxic products away to the U.S. government in the bankrupcty filing... wasn't that the trick they were planned on using..
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Old 09-14-2008, 07:04 PM
 
Location: Hope, AR
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I don't know, but I know they don't have a lot of toxic products themselves (leaving aside the 2 failed companies). They didn't get heavily involved in that stuff.

Quote:
Originally Posted by evilnewbie View Post
I believe B of A were planning on doing something to get away from the toxic mortgages... they had a dummy company buy Countrywide then bankrupt them both and then buy them (and Countrywide) so that they didn't inherit the toxic products... they gave those toxic products away to the U.S. government in the bankrupcty filing... wasn't that the trick they were planned on using..
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Old 09-14-2008, 07:04 PM
 
Location: Great State of Texas
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It was rumored that Merrill was the next hurting firm.

Remember..3Q earnings will be out in a few weeks.
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