christopher heiser <christopher AT heiser DOT net>
Date Published: September 15th, 2008
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On Merrill

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.

by Christopher Heiser on September 15 01:09
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