Ah, so it was a shotgun wedding, after all…
By: PAUL JACKSON
September 18, 2008
Who knew? Via Bloomberg Thursday night, comes this:
Merrill Lynch & Co. Chief Executive Officer John Thain told employees that Bank of America Corp. “cut our trading lines” in the days before it bought the firm, signaling a loss of confidence in the brokerage’s ability to pay.
Thain made the comments while explaining his decision to sell Merrill, according to five employees who attended the event at the company’s New York headquarters. The Sept. 15 remarks were rebroadcast on an internal system to all 60,000 employees.
I don’t know which HW readers have been through M&A wars before, but let’s just say Merrill’s Thain was likely worried about much more than being left in the cold if Lehman had found a deal…
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Events
2009 Feb 08 -- 2009 Feb 11
ASF 2009
The largest U.S. conference by and for the securitization industry. This year's agenda takes on added importance given financial turmoil. For more information: http://www.americansecurization.org
2009 Feb 17 -- 2009 Feb 19
MBA Mortgage Servicing Conference & Expo
The MBA's annual event for residential mortgage loan servicers is likely to be pretty well-attended this year. For more information: http://www.mortgagebankers.org
2009 Feb 25 -- 2009 Feb 28
MidWinter Executive Housing Conference
FHFA's James Lockhart keynotes this long-running independent event, now in its 38th year. As famous for skiing as for its sessions. For more information: http://www.midwinterconference.com/
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