Chris Marshall

Merrill Lynch: Unafraid of Contradictions

If you look carefully at the MER 10Q (page 68) you will see that they financed $4.3B of the $4.4B Bloomberg asset sale. This is a moronic transaction, when you are trying to sell assets to raise capital.

If they are so desperate as to carry out the Bloomberg transaction on these terms, what are they hiding from us regarding raising capital and the state of their balance sheet.