...have already cut thousands of investment banking jobs over the past year. The deal would not come without risks, however. Merrill Lynch, like many of its Wall Street peers, has been struggling with tight credit markets and billions of dollars in assets ...
...is looking at raising capital through the sale of a number of non-essential businesses, also confirmed that it was selling Merrill Lynch Capital to GE Capital for an undisclosed amount. Other assets also could be sold before Merrill closed its end-of-year...
...liquidity and capital. He has also flattened the firmâs reporting structure to âreduce the siloing that has taken place at Merrill Lynch over the last few years,â he said. Picking up the pieces is nothing new for Mr. Thain. In his previous job as chief of...
...Initially, it was well protected from credit risk in this underwriting. The protection frayed at the start of 2006. But Merrill kept playing the game. By early 2007, as cracks in the housing and mortgage markets widened, Merrill again missed a chance to scale...
...about 650 positions at its San Jose, Calif.-based subprime mortgage lender, First Franklin, and shed others by selling Merrill Lynch Capital, a lender to medium-size companies. Merrill will record a $350 million charge in the second quarter related to the...
...fray and was investigating the deal. After initially denying anything was amiss, Merrill admitted that two brokers from Merrill Lynch in Albany, New York screwed up in Springfield. The brokers had been dismissed and Merrill would reimburse Springfield for...
...would buy ASTAR out of its ARS positions between auctions in the event that ASTAR required instant access to its funds. Merrill Lynch's refusal to do so constitutes a blatant breach of its verbal agreement with ASTAR. -- Violation of Florida's Securities...
...hours later, John A. Thain, the chief executive of Merrill Lynch, climbed a stage in Manhattan and told his employees, most of whom he had barely gotten to know during his brief tenure, that he was selling the troubled firm to the Bank of America Corporation. Although...
...with the Federal Reserve, and for the government to disclose its intentions with respect to A.I.G. In the meantime, Merrill Lynch on Thursday filed its own agreement to be acquired by Bank of America. A gold star to Merrill for doing so a day earlier than...
...Americaâs most famous brokerage house, whose ubiquitous corporate logo was a hard-charging bull. âThe mortgage business at Merrill Lynch was an afterthought â they didnât really have a strategy,â said William Dallas, the founder of Ownit Mortgage Solutions,...