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Mother Merrill visits the confessional
Just a minor $5.7bn writedown and a desperate attempt to raise $8.5bn in new stock. But wait, didn’t they announce earnings last week yet made no mention of this? Why did Merrill fail to disclose this write-down to shareholders when they reported on July 17th? The stock was $30.73 then; everyone who bought since then … Continue reading Mother Merrill visits the confessional