Another institution--and I'm not using that word lightly--has become the latest casualty of the mortgage collapse. My feelings are summed up best by this quote:
“A hundred guys flew this firm into a mountain,” said a broker who works for Merrill in California and asked to remain anonymous because he did not have permission to speak with reporters. “It’s really sad. Now we’re going to be a bank like every one else.”
Where are those $100 million bonuses now? How sad for the employees and investors. One hopes that the management can take some responsibility for this disaster. I'm not holding my breath, however.