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Originally Posted by Antitrust32
Bank of America is supposedly buying Merrill Lynch from what I heard from the rumor mill.
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Correct and that is why the pressure from the govt to get the deal done NOW. Merrill is a dow component. Can you imagine what the market would have looked like without Merrill stock jumping on news of the deal?
The market was doing fine, ranging in the 200's until Paulson spoke...and then it started to tank.
Now the FED is asking (coercing?) Goldman and JP morgan to invest in a consortium to raise capital for AIG. desperate times.