Two months ago, everyone was saying that wealth management was going to save the entire banking industry and that Merrill Lynch is the master in wealth management so it is better situated that anyone else in the industry. Today, we learn that Merrill CEO was secretly trying to shop the company to Wachovia. I think that this may precipitate another leg down in the entire industry.

 

Submitted: Oct 26, 2007    Views: 224    Comments: 0    Likes: 4   


View Article: http://www.nytimes.com/2007/10/26/business/26merril1.html?hp=&adxnn...


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