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WASHINGTON - OCTOBER 13: Merrill Lynch CEO, John Thain leaves the Treasury Department after a meeting October 13, 2008 in Washington DC. U.S. Treasury Secretary Henry Paulson invited the heads of major U.S. banks to meet at the Treasury Department while world banking chiefs are in Washington for meetings of the World Bank and the International Money Fund.
WASHINGTON - OCTOBER 13: Merrill Lynch CEO, John Thain leaves the Treasury Department after a meeting October 13, 2008 in Washington DC. U.S. Treasury Secretary Henry Paulson invited the heads of major U.S. banks to meet at the Treasury Department while world banking chiefs are in Washington for meetings of the World Bank and the International Money Fund.
NEW YORK - SEPTEMBER 15: People leave Merrill Lynch's offices in the World Financial Center September 15, 2008 in New York City. Bank of America Corp., the largest U.S. consumer bank, has agreed to purchase Merrill Lynch & Co. Inc for approximately $50 billion in an attempt to avoid financial collapse.
NEW YORK - SEPTEMBER 15: People leave Merrill Lynch's offices in the World Financial Center September 15, 2008 in New York City. Bank of America Corp., the largest U.S. consumer bank, has agreed to purchase Merrill Lynch & Co. Inc for approximately $50 billion in an attempt to avoid financial collapse.
NEW YORK - SEPTEMBER 15: A man leaves Merrill Lynch's offices in the World Financial Center September 15, 2008 in New York City. Bank of America Corp., the largest U.S. consumer bank, has agreed to purchase Merrill Lynch & Co. Inc for approximately $50 billion in an attempt to avoid financial collapse.
NEW YORK - SEPTEMBER 15: People leave Merrill Lynch's offices in the World Financial Center September 15, 2008 in New York City. Bank of America Corp., the largest U.S. consumer bank, has agreed to purchase Merrill Lynch & Co. Inc for approximately $50 billion in an attempt to avoid financial collapse.
NEW YORK - SEPTEMBER 15: A woman walks outside Merrill Lynch's offices in the World Financial Center September 15, 2008 in New York City. Bank of America Corp., the largest U.S. consumer bank, has agreed to purchase Merrill Lynch & Co. Inc for approximately $50 billion in an attempt to avoid financial collapse.
A man walks out of Merrill Lynch's headquarters in New York on September 15, 2008. Bank of America announced Monday it was buying Merrill Lynch for 50 billion dollars in stock, scooping up the Wall Street icon battered by the housing and credit crisis. While giving a lifeline to a troubled Wall Street giant, the deal creates the world's largest financial services company, according to the companies.
A sign for Merrill Lynch's headquarters is seen in New York on September 15, 2008. Bank of America announced Monday it was buying Merrill Lynch for 50 billion dollars in stock, scooping up the Wall Street icon battered by the housing and credit crisis. While giving a lifeline to a troubled Wall Street giant, the deal creates the world's largest financial services company, according to the companies.
The partial logo for Merrill Lynch's headquarters is seen in New York on September 15, 2008. Bank of America announced Monday it was buying Merrill Lynch for 50 billion dollars in stock, scooping up the Wall Street icon battered by the housing and credit crisis. While giving a lifeline to a troubled Wall Street giant, the deal creates the world's largest financial services company, according to the companies.
A man walks out of Merrill Lynch's headquarters in New York on September 15, 2008. Bank of America announced Monday it was buying Merrill Lynch for 50 billion dollars in stock, scooping up the Wall Street icon battered by the housing and credit crisis. While giving a lifeline to a troubled Wall Street giant, the deal creates the world's largest financial services company, according to the companies.
A flag with the Merrill Lynch symbol flies in front of one of the company's buildings at the Merrill Lynch Hopewell Campus Monday, Sept. 15, 2008, in Hopewell Township, N.J. Merrill Lynch is the second-largest employer in Mercer County, with about 6,000 employees working in the huge complex it moved into in Hopewell Township a few years ago. Bank of America Corp. said early Monday it would acquire Merrill Lynch in an all-stock transaction worth about $50 billion that should lift the uncertainty shrouding Merrill since the start of the credit crisis over a year ago.
Chief Executive of Merrill Lynch John Thain (L) and Chief Executive of Bank of America Kenneth Lewis attend a news conference announcing Bank of America Corporation's acquisition of Merril Lynch in a $50 billion all-stock transaction in New York September 15, 2008. Bank of America Corp's planned $50 billion acquisition of Merrill Lynch & Co would create the world's second-largest bank by market value, after Industrial & Commercial Bank of China, and combine the largest U.S. consumer bank with one of the largest U.S. investment banks and the leading retail brokerage force.