Bank of America Reaches Deal for Merrill, while Lehman looks like heading for going under.
Bank of America Reaches Deal for Merrill (WSJ), while Lehman looks like heading for going under. Very rapid in resolution and (hopefully) adjustment. This is like, in the Japanese story, the merger of three banks into Mizuho (2000). You might say Merril is a securities company, but wait a minute, this current American financial crisis is a crisis of shadow banking crisis in which securities companies are the main players.
So, in a few days of hurricane, eventually (in a year or so) a clear day is coming. For liquidity rich guys, this could be the buy moment.
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