Open Question
From Bloomberg:
July 28 (Bloomberg) -- Merrill Lynch & Co. took steps to shore up its endangered
credit rating by selling $8.5 billion of stock and liquidating $30.6 billion of
money-losing assets at a fifth of their original value.
I was never and even now not very good @ math. But if MER is liquidating $30.6B
in assets at a fifth of their original value. Is that not selling your inventory
at 20 cents on the dollar?
Only shows what this crisis is coming too...
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HAHAHA - they are lucky to get 20%
Answered by Peter near Matanzas Inlet
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Would not doubt there are some business entities willing to play the credit
'card', compiling an advantageous set of financial records to fit the rules of
qualifying for US government assistance. . . and these guys do play in huge
credit numbers: auto loans, credit card loans, student loans, retail store
loans, real estate loans, bond issues, market makers, hedge funds and the
leasing markets.
The crisis, however, is with the government in not providing effective oversight
while promoting rational wealth-building opportunities in a fair and open
(transparent), competitive capital market that holds individuals accountable.
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things r not good out there
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i got into the skf on that news
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