Well it has been an interesting 2 days, to say the least...
Sunday night, around 8pm, a good friend of mine "Nate" was watching the news. Much to his surprise, he learned his employer, Financial GIANT Merrill Lynch was now a part of the beloved (sense the sarcasm) Bank of America...tumtumtum! The branch has been in turmoil, clients calling by the hour. Merrill's price per share closed today at a remarkable $22.18! The price in September of last year (when I graced the office with my presence) was up around $80, and everyone was mad at the recent $15 per share drop! Whose pissed now- at least they don't work for Enron ; )
It gets better...
The Federal Reserve bank, lovingly called the Fed, or formally Greenspan's bitch, is considering a bail out of insurance giant AIG (not the financial side) and amidst all of this their price per share on stock closed down 50% today...
NO! more????
In addition to AIG's running shareholders, WaMu is also scaring them away with rumors of a potential buy out.... I remember when they were threatening to buy out Merrill last year, how it all comes full circle!
- does this remind anyone of high school... RUMORS abound!!!!!
On a side note, something good did come out of all of this, other than Morgan Stanley beating analysts estimates for earnings!
The Sox are now tied for first place in the A.L. east, Good Luck Beckett! bring it home!
...Lions and Tigers and Bears... Oh my (but definitely no Bull... market that is!)
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