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Technology Stocks : Disk Drive Sector Discussion Forum -- Ignore unavailable to you. Want to Upgrade?

To: Stitch who wrote (2772)	3/11/1998 10:37:00 AM
From: LK2	Read Replies (1) \| Respond to of 9256

*OFF TOPIC* Stitch, thanks for the comments on BSC and FAMCK. I have a few shares of BSC, along with more shares of other brokers (HQ, DLJ, MER). This article may be part of reason for recent strength in brokers (if there is ever any 'real reason' for stock price movement) [But I know the brokers have been talking about deregulation since the late 1970's, and it's been an ongoing process for many years. So for MER to call this 'a landmark agreement' sounds like a bit of normal hype]: biz.yahoo.com Tuesday March 10, 6:24 pm Eastern Time Company Press Release SOURCE: Merrill Lynch & Co., Inc. Merrill Lynch Hails 'Landmark Agreement' on Financial Services Legislation NEW YORK, March 10 /PRNewswire/ -- In response to the agreement announced today of a compromise financial services reform bill by the Commerce and Banking Committees of the U.S. House of Representatives and the House leadership, Merrill Lynch Chairman and CEO David H. Komansky and President and COO Herbert M. Allison, Jr., jointly stated: ''This is truly a landmark agreement that will ensure continued U.S. competitiveness in international markets, while benefiting every American who is a consumer of financial services. ''We are delighted that Commerce Committee Chairman Tom Bliley, Banking Committee Chairman Jim Leach, the House leadership and Representative John Boehner's Working Group on Financial Services Modernization have together forged this historic compromise on an essential piece of legislation. They have all done a remarkable job. ''Merrill Lynch will continue to offer its full support for this bill as it moves through the legislative process in Congress. We believe there is no higher priority for the health of our nation's financial system than passing financial services reform legislation. America simply cannot afford to wait any longer to create a modern framework for U.S. financial corporations and our nation's capital markets. ''This legislation would replace Great Depression-era laws with a legal framework suited for the 21st century's global financial marketplace; would break down the artificial barriers that have prevented full competition across banking, securities and insurance businesses; and would, in the process, create what the U.S. Treasury Department estimates to be $15 billion in savings for American consumers. Clearly, this bill would deliver tremendous benefits to the U.S. economy and the American people.'' SOURCE: Merrill Lynch & Co., Inc.