Banking, finance, and taxes
Bank Of America (BAC) In Talks To Buy Merrill Lynch (MER)
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Convinced that a Lehman (LEH) Chapter 11 could cause huge losses for other large financial institutions, the weakest players have become desperate to find partners or buyers. According to The Wall Street Journal, Merrill Lynch (MER), its shares pulled into the whirlpool by problems at Lehman, in talks to be bought by Bank of America (BAC).
Before the month is over, several weak companies from Merrill to Washington Mutual (MW) may not longer exist as independent entities.
Douglas A. McIntyre
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