Friday, November 2, 2007

Merrill Lynch Responds to Wall Street Journal Story

Merrill Lynch has denied the story in the WSJ. A few minutes ago it sent out a press release

This morning, an article in the Wall Street Journal about Merrill Lynch & Co., Inc., (NYSE: MER - News), relying on unidentified sources, speculated about inappropriate transactions that “may have been designed” to avoid write-downs that “might have been” required earlier in the year. The story is non-specific and relies on unidentified sources. We have no reason to believe that any such inappropriate transactions occurred. Such transactions would clearly violate Merrill Lynch policy.

Some might argue that this is a bit too wishy-washy at this point in the saga, but at least it is a denial.
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