Comments on: Bank America Merrill Merger Emails: “Read and weep” “What a disaster!” http://www.ritholtz.com/blog/2009/10/bank-america-merrill-merger-emails-read-and-weep-what-a-disaster/ Macro Perspective on the Capital Markets, Economy, Geopolitics, Technology, and Digital Media Tue, 14 Feb 2012 22:30:38 +0000 hourly 1 http://wordpress.org/?v=3.0.5 By: vachon http://www.ritholtz.com/blog/2009/10/bank-america-merrill-merger-emails-read-and-weep-what-a-disaster/comment-page-1/#comment-228639 vachon Thu, 22 Oct 2009 23:31:35 +0000 http://www.ritholtz.com/blog/?p=41900#comment-228639 I dunno. There's more going on here than meets the eye. Either this investigation is taking way too long or members of the committee see this as a potential 2010 campaign boost if they play it right. I dunno. There’s more going on here than meets the eye. Either this investigation is taking way too long or members of the committee see this as a potential 2010 campaign boost if they play it right.

]]> By: Pat G. http://www.ritholtz.com/blog/2009/10/bank-america-merrill-merger-emails-read-and-weep-what-a-disaster/comment-page-1/#comment-228615 Pat G. Thu, 22 Oct 2009 21:56:37 +0000 http://www.ritholtz.com/blog/?p=41900#comment-228615 "makes it pretty hard for the company to claim MAC ". They lied? Who knew? “makes it pretty hard for the company to claim MAC “. They lied? Who knew?

]]> By: doug http://www.ritholtz.com/blog/2009/10/bank-america-merrill-merger-emails-read-and-weep-what-a-disaster/comment-page-1/#comment-228396 doug Thu, 22 Oct 2009 13:34:25 +0000 http://www.ritholtz.com/blog/?p=41900#comment-228396 I don't think HB&B really likes having competition from NC..... I don’t think HB&B really likes having competition from NC…..

]]> By: Moss http://www.ritholtz.com/blog/2009/10/bank-america-merrill-merger-emails-read-and-weep-what-a-disaster/comment-page-1/#comment-228394 Moss Thu, 22 Oct 2009 13:30:51 +0000 http://www.ritholtz.com/blog/?p=41900#comment-228394 A microcosm of the broader hubris disease. He paid too much. I am sure GS had some exposure to ML. A microcosm of the broader hubris disease.
He paid too much.
I am sure GS had some exposure to ML.

]]> By: hammerandtong2001 http://www.ritholtz.com/blog/2009/10/bank-america-merrill-merger-emails-read-and-weep-what-a-disaster/comment-page-1/#comment-228362 hammerandtong2001 Thu, 22 Oct 2009 11:48:24 +0000 http://www.ritholtz.com/blog/?p=41900#comment-228362 @ bsneath Exactly. The news report linked here tells us nothing, is misleading, and misses the core point. In fact, the article makes the point, unwittingly, that BOA was actually strong-armed by US Treasury into closing this disastrous merger. I.E. if the leadership at BOA was alarmed and highly concerned about mounting losses at Merrill, and a recent operating history demonstrating material operating weakness, and BOA's Lewis started to push back from this combination in Nov and Dec, 2008 -- then how did this deal get done? Simple: Paulson told Lewis to do it -- or else. . @ bsneath

Exactly.

The news report linked here tells us nothing, is misleading, and misses the core point.

In fact, the article makes the point, unwittingly, that BOA was actually strong-armed by US Treasury into closing this disastrous merger. I.E. if the leadership at BOA was alarmed and highly concerned about mounting losses at Merrill, and a recent operating history demonstrating material operating weakness, and BOA’s Lewis started to push back from this combination in Nov and Dec, 2008 — then how did this deal get done?

Simple: Paulson told Lewis to do it — or else.

.

]]> By: jc http://www.ritholtz.com/blog/2009/10/bank-america-merrill-merger-emails-read-and-weep-what-a-disaster/comment-page-1/#comment-228354 jc Thu, 22 Oct 2009 11:23:45 +0000 http://www.ritholtz.com/blog/?p=41900#comment-228354 Banksters at the Magnificent Seven headed to the poorhouse! http://www.nytimes.com/2009/10/22/business/22pay.html?th=&adxnnl=1&emc=th&adxnnlx=1256210292-UIkR+c6vNDr8ofMYMJQXtQ Banksters at the Magnificent Seven headed to the poorhouse!
http://www.nytimes.com/2009/10/22/business/22pay.html?th=&adxnnl=1&emc=th&adxnnlx=1256210292-UIkR+c6vNDr8ofMYMJQXtQ

]]> By: Mark E Hoffer http://www.ritholtz.com/blog/2009/10/bank-america-merrill-merger-emails-read-and-weep-what-a-disaster/comment-page-1/#comment-228329 Mark E Hoffer Thu, 22 Oct 2009 04:41:51 +0000 http://www.ritholtz.com/blog/?p=41900#comment-228329 That "The Stumblin' Herd" was infected by 'mad-cow disease'(bovine spongiform encephalopathy) was obvious from, broad, Pastures away, and way before the BAC-MER mash-up.. ex. 1. Merrill Lynch's Stan O'Neal will be well rewarded for his failure http://www.bloggingstocks.com/2007/10/29/merrill-lynchs-stan-oneal-will-be-well-rewarded-for-his-failur/ further, these, continuing 'events' make, an even greater, mockery of previous white-washing, sold as 'Reform', like SarbOx. as one can see here http://clusty.com/search?input-form=clusty-simple&v%3Asources=webplus&query=SarbOx+failure SarbOx was, merely, a jobs program for Business Consultants, IT Developers, and, more, useless Accountants/Auditors. good thing "Bag" Holder is ensconced in the AG chair.. http://clusty.com/search?input-form=clusty-simple&v%3Asources=webplus&query=Eric+Holder+ex-Clinton+acting+AG+ easier to bury the fresh bodies, when you know where the old ones are.. That “The Stumblin’ Herd” was infected by ‘mad-cow disease’(bovine spongiform encephalopathy) was obvious from, broad, Pastures away, and way before the BAC-MER mash-up..

ex. 1. Merrill Lynch’s Stan O’Neal will be well rewarded for his failure
http://www.bloggingstocks.com/2007/10/29/merrill-lynchs-stan-oneal-will-be-well-rewarded-for-his-failur/

further, these, continuing ‘events’ make, an even greater, mockery of previous white-washing, sold as ‘Reform’, like SarbOx.
as one can see here http://clusty.com/search?input-form=clusty-simple&v%3Asources=webplus&query=SarbOx+failure SarbOx was, merely, a jobs program for Business Consultants, IT Developers, and, more, useless Accountants/Auditors.

good thing “Bag” Holder is ensconced in the AG chair..
http://clusty.com/search?input-form=clusty-simple&v%3Asources=webplus&query=Eric+Holder+ex-Clinton+acting+AG+
easier to bury the fresh bodies, when you know where the old ones are..

]]> By: DiggidyDan http://www.ritholtz.com/blog/2009/10/bank-america-merrill-merger-emails-read-and-weep-what-a-disaster/comment-page-1/#comment-228318 DiggidyDan Thu, 22 Oct 2009 03:07:05 +0000 http://www.ritholtz.com/blog/?p=41900#comment-228318 StrongArmed. . . StrongArmed. . .

]]> By: Marcus Aurelius http://www.ritholtz.com/blog/2009/10/bank-america-merrill-merger-emails-read-and-weep-what-a-disaster/comment-page-1/#comment-228313 Marcus Aurelius Thu, 22 Oct 2009 02:05:57 +0000 http://www.ritholtz.com/blog/?p=41900#comment-228313 Vermont Trader Says: "what would have happened if they had let MER fail?" __________ We still might learn the answer to that question, or worse. I don't really believe things are under control, yet. What I take from the whole fiasco is that a bunch of bankers freaked out, panicked, and made crazy deals while simultaneously pumping borrowed money into the system. Not much of a confidence builder. Vermont Trader Says:

“what would have happened if they had let MER fail?”
__________

We still might learn the answer to that question, or worse. I don’t really believe things are under control, yet. What I take from the whole fiasco is that a bunch of bankers freaked out, panicked, and made crazy deals while simultaneously pumping borrowed money into the system. Not much of a confidence builder.

]]> By: scharfy http://www.ritholtz.com/blog/2009/10/bank-america-merrill-merger-emails-read-and-weep-what-a-disaster/comment-page-1/#comment-228312 scharfy Thu, 22 Oct 2009 01:56:26 +0000 http://www.ritholtz.com/blog/?p=41900#comment-228312 OH MY GOD!! look there - a healthcare reform debate!!!! still here? just practicing Team Obama's next move. OH MY GOD!! look there – a healthcare reform debate!!!!

still here?

just practicing Team Obama’s next move.

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