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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Peter V who wrote (137120)	7/28/2008 4:30:57 PM
From: Travis_Bickle	Respond to of 306849

Also known as the "Golden Years"

To: Peter V who wrote (137120)	7/28/2008 5:29:02 PM
From: Live2Sail	Read Replies (1) \| Respond to of 306849

"Honey, I'll get your sippy cup of milk after I bid this block of Goldcorp." "Daddy, why is that bald man yelling on TV?"

To: Peter V who wrote (137120)	7/28/2008 5:31:09 PM
From: RockyBalboa	Read Replies (1) \| Respond to of 306849

Then comes Merrill, the raging bear. Stock down a mile: Press Release Source: Merrill Lynch Merrill Lynch Announces Substantial Sale of U.S. ABS CDOs, Exposure Reduction of $11.1 Billion Monday July 28, 5:25 pm ET Merrill Lynch Announces Initiatives to Further Enhance Capital Position NEW YORK--(BUSINESS WIRE)--Merrill Lynch (NYSE: MER - News) today announced a series of actions to significantly reduce the company’s risk exposures and further strengthen its capital position. These actions include: Announced substantial sale of U.S. super senior ABS CDO(1) securities, resulting in an exposure reduction of $11.1 billion from June 27, 2008 Agreement to terminate ABS CDO hedges with monoline guarantor XL Capital Assurance Inc. (“XL”) and settlement negotiations with other monoline counterparties Plans to issue new common shares with gross proceeds of approximately $8.5 billion through a public offering launched today (excluding a fifteen percent, or approximately $1.3 billion, option granted to the underwriter to purchase additional shares of common stock to cover over-allotments) Agreement that Temasek Holdings will purchase $3.4 billion of common stock in the public offering, a portion of which is subject to receipt of regulatory approvals Exchange of all of the outstanding mandatory convertible preferred securities for common stock or new preferred securities, which eliminates the reset features in the original securities Purchase of approximately 750 thousand shares of common stock in the public offering by executive management