Sunday, September 14, 2008

Another one bites the dust

Bank of America to Buy Merrill Lynch

Bank of America is in advanced talks to buy Merrill Lynch for at least $38.25 billion in stock, people briefed on the negotiations said on Sunday, as a means to preserve that investment bank while Lehman Brothers looks likely to collapse. The move suggests a desperate effort at triage on Wall Street, as Bank of America works to shore up the likely next victim of the credit crunch. [The whole financial system is imploding! 100% correct, guaranteed!! Protect yourself!!!]

Posted by little professor @ 10:36 PM (779 views)
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5 thoughts on “Another one bites the dust

  • Geez.. cracking post.

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  • Looks like there’s some consolidation going on out there. Wonder where Bank of America is getting its capital strength from – any thoughts?

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  • Warren Buffett?

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  • It’s all happening tonight.. Lehman’s, Merrill Lynch.. soon to be joined by AIG, WaMu.. will the Fed announce an emergency Rate Cut tomorrow before the market opens in New York? Or drive down oil to $90 – $80? To counter-act the bad news….

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  • My mates left Merrill in the last downsizing deal.

    Looks like another big downsize coming!

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