FEATURES >> Q4 Earnings | Bank Bonuses | Return of Glass-Steagall | Galleon Group | PR Strategies at Top Banks
TOPICS >> Hedge Funds | Private Equity | Regulatory News | Top Banks: GS C BAC JPM WFC MS
Bank of America-Merrill Lynch, a bogus deal?
With Bank of America's stock sinking to 14-year lows, some are starting to question the wisdom of the Merrill Lynch deal. What really made the deal work, one could argue, was the government assurance that it would help defray any losses tied to the deal--quite a revelation in itself. That's coming home to roost now, as Bank of America needs a $20 billion TARP injection to close the deal.
Fortune notes, "CEO Ken Lewis' decision to buy Merrill isn't the only thing that looks questionable now. So does the advice he and the Bank of America board got on the hastily arranged Merrill deal from its advisers, Fox-Pitt Kelton and J.C. Flowers & Co." They reaped $20 million for a weekend's work on those opinions. It's fair to say the jury is out on the deal. It's also fair to say that Lewis' has invested his entire legacy in this deal.
For more:
- here's the article
Related Articles:
Bank of America news from FierceFinance
Ken Lewis news from FierceFinance
Comments
By YOU KNOW NOTHING | Posted 12:31am | June 13, 2009
THIS WAS A GREAT DEAL. A ONCE IN A LIFTIME CHANCE TO MAKE LARGE AMOUNTS OF MONEY,
MOST PEOPLE WERE TO SLOW AND DID NOT FOLLOW UP. BUT AS I HAVE SAID MANY TIMES. BUYING BAC ON 1/28/09 AT 7.34 MANDE YOU GOLD.
DOUBLING DOWN IN MARCH AT 3.00 WITH BOVE SAYING IT WAS THE GREATEST BUY "EVER" MADE YOU TRUCKS OF MONEY. THE STOCK WAS TRADING UP TO A BILLION SHARES DAILY, GETTING IN WAS EASY. A LITTLE SCAREY ? BUT WHEN BETTING BIG YOU ARE SUPOSED TO BE SCARED. THE PAY OUT/ // 3.00 TO UP TO 25 THATS MONEY AND IF YOU ARE ON A TIGHE STOP LOSS ITS REAL MONEY.
OH!!!! HAS ANYONE SEEN MAYO. OR IS HE WALKING THE DOG. HE AND WRITNEY, BOTH HAVE USED UP THEIR RUN OR WEGE BOARD.HOPEFULLY WE WONT HEAR FROM THEM UNTIL THEY DO SOME NEW STUDIES.
By THEY NO NOTHING | Posted 12:39am | June 13, 2009
MOLLY YOUR INFORMATION IS GREAT. NOT SO MANY STATEMENTS WITH NO FACTS. KEEP UP THE GREAT WORK. I WILL BE GIVING MY OPINION WHEN I SEE AN OPENING..IF I BECOME TO MUCH ASK ME TO GET LOST. HAVE A GOOD DAY.
Post new comment
Home
| Subscribe | Advertise | Mobile Edition | RSS |
Privacy
| Site MapTHE FIERCEMARKETS NETWORKFierceFinance | FierceFinanceIT | FierceComplianceIT | FierceHealthcare | FierceHealthFinance | FierceHealthIT | Hospital Impact | FierceMobileHealthcare | FierceCIO | FierceCIO:TechWatch | FierceContentManagement | FierceMobileIT | FierceGovernmentIT | FierceBiotech | FierceBiotech Research | FiercePharma | FierceVaccines | FierceBiotechIT | FiercePharma Manufacturing | FierceIPTV | FierceOnlineVideo | FierceTelecom | FierceVoIP | FierceBroadbandWireless | FierceDeveloper | FierceMobileContent | FierceWireless | FierceWireless:Europe | FierceCable© 2010 FierceMarkets. All rights reserved. |
 |