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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: mishedlo who wrote (76536)3/19/2008 10:28:09 PM
From: John Metcalf  Read Replies (2) of 116555
 
Mish, Merrill surely has a competent legal team that would have evaluated their chance of collecting $3.1B in guarantees. And they probably came to the same conclusion you came to (guarantee is worthless).

So, why did they file? In order to present an impaired balance sheet asset as a footnote to statements, rather than a write-down? In order to secure a precedence of claim if the insurer goes bankrupt?

They must have something to gain, or they wouldn't have filed the action.
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