• GoldCore
    07/25/2014 - 09:41
    The EU and global drive toward bail-ins continues unabated. Bail-ins are coming to financial institutions and banks in the EU, UK, U.S. and much of the western world - with painful consequences for...

Merrill

Merrill
Tyler Durden's picture

Merrill Bonus Recipients To Be Named Publicly





Judge Bernard Fried took one hard look at Ken Lewis' inane "bonuses are trade secrets" argument and had a laughter induced hernia. Look for some seriously good real estate deals in Manhattan in the next few weeks. Bloomerg has more.

 
Tyler Durden's picture

Merrill Traders Mismarked P&Ls By Up To $7 Billion To Game Bonus





We are surprised to have missed this the first time around.

 
Tyler Durden's picture

Ken Lewis Arrives At Cuomo Office To Testify On Merrill Bonues





The 61 year old executive claims "I look forward to the chance to speak candidly and forthrightly and honestly tell the story."

Um, if the story met all those criteria Ken would be out of a job by 6 pm today... Regardless, we look forward to hearing his story too and providing "objective perspective."

 
Tyler Durden's picture

Ken Lewis Arrives At Cuomo Office To Testify On Merrill Bonues





The 61 year old executive claims "I look forward to the chance to speak candidly and forthrightly and honestly tell the story."

Um, if the story met all those criteria Ken would be out of a job by 6 pm today... Regardless, we look forward to hearing his story too and providing "objective perspective."

 
Tyler Durden's picture

The Merrill Bubble





It is pretty fascinating that Merrill which ranks horribly in both increasing writedowns and change in leverage over the past 5 years has the highest compensation as % of operating profit (when this was positive). Merrill is the only firm that paid out over 100% of its operating profit to its employees over the '03-'08 period (185% to be exact). Even mighty Goldman barely registers on the chart when compared to Merrill on these parameters. Hat tip to Mike Cembalest.

 
Tyler Durden's picture

Brits Stampeding To Pay Bonuses Fast in Merrill's Footsteps





You knew it was coming.

 
Tyler Durden's picture

All Business Trips Cancelled for Merrill Brokers





We wrote about what we think the implications for the private jetting industry would be after Falcon-gate, but did not expect this.

 
Tyler Durden's picture

Was Merrill Casualty #3 of The Basis Trade After DB Prop and Citadel





In a bet gone very bad, that if true would make Jerome Kerviel's $5 billion loss at Soc Gen seem like amateur hour, the WSJ reports ($$$ link with hat tip to portfolio.com) that the main reason for Merrill's massive $15 billion Q4 loss was due to some very large basis trades gone horribly wrong.

 
Tyler Durden's picture

Was Merrill Casualty #3 of The Basis Trade After DB Prop and Citadel





In a bet gone very bad, that if true would make Jerome Kerviel's $5 billion loss at Soc Gen seem like amateur hour, the WSJ reports ($$$ link with hat tip to portfolio.com) that the main reason for Merrill's massive $15 billion Q4 loss was due to some very large basis trades gone horribly wrong.

 
Tyler Durden's picture

Merrill Employees Seen Running With Paper Bags Full of Cash





In what will likely be tomorrow's #1 scandal on CNBC, FT reports that Merrill had decided to pay bonuses in December ahead of their usual payout time in February, and just three days before the merger with Bank of America closed.

 
Tyler Durden's picture

Merrill Employees Seen Running With Paper Bags Full of Cash





In what will likely be tomorrow's #1 scandal on CNBC, FT reports that Merrill had decided to pay bonuses in December ahead of their usual payout time in February, and just three days before the merger with Bank of America closed.

 
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