XL Capital, Merrill Payday in Pictures

CDS: massive improvement for XL Capital (XL) and ML

CDS via CMA DataVision:

 

The most important and most ignored sentence in Merrill's (MER) press release:

The sale will reduce Merrill Lynch’s risk-weighted assets by approximately $29 billion.

Comments

[Ishortyou:]

To all Banks and Broker Firms: just FIRE SELL all your structure finance vehicles i.e.: CDO-ABS-MBS-SIVs from your books if you want to live period!

2008 Jul 30 10:07 AM

[fatcat:]

From what I've read,they are still on the hook for 75% of this junk...

2008 Jul 30 12:22 PM