Friday, November 2, 2007

Merrill Shares Fall as Credibility Questioned

Apparently I was not the only one who noticed the parking violation in the story reported by the WSJ this morning. Reuters just released another piece Merrill shares fall as credibility questioned: " Merrill Lynch & Co Inc's credibility is coming under increased attack after an analyst said the biggest brokerage sought to mitigate write-downs by parking subprime-related assets with hedge funds"

I obviously do not know the facts, and there could be a rational explanation for this conduct, or the WSJ could have gotten it all wrong. Merrill has some extremely talented and intelligent in house attorneys and compliance personnel. Either management is not using its resources, or the WSJ story is wrong, but Merrill has got to get this subprime mess under control or get the correct story out to the press.
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