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The Demise Of Merrill Lynch: Revisiting Its Monumental Write-Down 10 Years Ago
Kate StalterFormer Contributor
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Oct 24, 2017,12:36pm EDT
This article is more than 4 years old.
Although U.S. equity markets are soaring to fresh highs seemingly every day, most Americans in or near retirement still feel the sting of the financial crisis and market meltdown that began a decade ago.
October 24 marks one significant milestone in the crisis: It’s the 10-year anniversary of Merrill Lynch’s whopping $7.9 billion writedown due to complex debt instruments harmed by the meltdown in the subprime mortgage market.
There’s an old-English saying that a “fish rots from the head down.” And, at Merrill Lynch in 2007 that saying couldn’t have been more accurate. Because the same man who built Merrill Lynch into the biggest underwriter of subprime collateralized debt obligations also skippered the firm to the brink of extinction.
AT THE BANK OF AMERICA PLAZA ON LAS OLAS A FORU HUNDRED TRILLION DOLLAR BUILDING HAS BEEN TAKEN OVER VIA AM ALASTAIR BURLINGHAM AND MARIANNE OF CLASS OF ` RICHMOND COLLEGE, LONDON WITH ANOUSHKA (HARTFORD CONNECTICUT MALIAN SETTLEMENT THEFTS AND MARY QUEEN OF SCOTS [FAKER FROM PAKISTAN/ENGLISH HERITAGE]
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THE BIG WIN WAS PUBLISHED AND A DAY LATE CASSANDRA R JAMESON (NEWLY AWARDED HER 10 TRILLIONS ANNUALLY COSTING THE WORLD TO PAY HER DIRECTLY NAMESAKE TO HER REFINERY AND IRELAND AND UNION WEST (ON HER KIDS ZOM LIVING (.COM) AND IN THE CITY OF CHICAGO.
Merrill Lynch Wealth Management
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SEE WHERE THEY ARE NOW: IN A 400 TRILLIONS DOLLAR BUILT FOR THE HEIRESS'S 789 ZILLION MALIAN TOUR OF HER REWARD SETTLEMENT AFTER BEIGN FOUND DEAD IN THE BROTHER CALLED MALIAN SEX SLAVERY AT THE TIME SHE AND LENA HORNE WERE SNATCHED THERE TOGETHER JUST EYARS EARLIER.
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