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Politics : Ask Michael Burke
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To: valueminded who wrote (60919)5/27/1999 5:46:00 PM
From: Knighty Tin  Read Replies (1) of 132070
 
Chris, The truth is, none of the crappy cos. buying back their stocks pays 5.9% for interest on their long bonds. AT&T is paying 7.6% on their long bonds, and that is a much better credit than most.

I think CMB could buy Merrill. Dumb, but not the way they think. They want to get into investment banking and Merrill is definitely there. When they write off the losses and spin it off again in 10 years, folks will applaud them for returning to "core" businesses. But I think CMB cannot stand C going out and buying Travelers and becoming bigger than them. They want to find a way to lose money even faster than Citi. And Merrill is a perfect answer. <g>
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