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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: michael97123 who wrote (402871)	7/30/2008 12:48:01 PM
From: tejek	Read Replies (1) \| Respond to of 1573994

ML isnt going down the drain but no doubt it is not a pleasant place to work. I would leave too but that might be the idea of mgt is to make it uncomfortable enough to create voluntary resignations, minimize firings and severance issues. Actually this is the beginnings of new Merrill. Actually, it isn't. MER is still on the hook for those CDOs should they prove to be rotten to the core. 'Mother Merrill' may still go down: The next line reads "but that's not all," so The Business Press Maven naturally assumed Forbes would describe the specifics of the sale, which makes it way less than meets the eye. These securities, after all, were valued at $11.1 billion a few weeks ago when Merrill reported its quarter results and are now being sold for $6.7 billion -- but that's not even the troubling part. See, the buyer would take the bucket of slop only if Merrill financed most of it. The company did -- 75% worth -- with debt whose only collateral are the assets that Merrill is selling. What does this mean in plain English? Merrill is still open to tons of risk. Read more.......... biz.yahoo.com And the absolute worst part........the CDOs they are getting rid of are the pre 2005 slop. The worst of the slop....2006 and 2007.....they still hold.