Bloomberg reports that Merrill Lynch's talks to sell a "significant" amount of bad loans to Korea Asset Management Corp. may be hitting the skids because the two parties can't come to an agreement on how much the crap is worth. Seems Merrill and Co. are under the impression the assets have some value; Korea, not so much. What's probably going to happen is that Merrill, having zero self-respect, will cut prices and take whatever capital they can get. You and I both know they shouldn't. At this juncture, with nothing to lose and a golden parachute to gain, Thain should say thanks but no thanks to your shitty-ass offer and walk out of the room. Then a. Korea Asset Management will suddenly reconsider and make old onesie an offer he can sink his teeth into or b. the plan will backfire and KAM won't come around, but at least Merrill will have retained a modicum of pride, if not shareholder value. Plus, if all goes according to plan, the board will ask Thain to leave, and he'll finally wake up from this all too real nightmare, hopefully in the arms of Lloyd Blankfein or some other Goldman exec authorized to offer him a job. (Or not. As JT's said before, sometimes you just want to be held.)
Merrill May Fail to Sell Bad Loans to Korea Asset [Bloomberg]
Posted by guest , Sep 04, 2008 9:57AM
First to comment
Posted by guest , Sep 04, 2008 10:00AM
it's rumored that the Sham -wow is korean made and NOT german like the commercial states. Sincerely Vince Offer
Posted by CNote , Sep 04, 2008 10:01AM
So, essentially, Merrill's that crackhead on the corner.
"Just give me $5! No - $3!, come on mannnnnnn.... I'll ____ your ____!. A dollar, that's all I need man, come on! I just need a little to get me through today."
Posted by guest , Sep 04, 2008 10:01AM
Bess- you ain't funny.
Posted by guest , Sep 04, 2008 10:05AM
ok merrill lynch employee @4
Posted by guest , Sep 04, 2008 10:06AM
maybe it's because aig and leh are allowing significant investors to look up their skirts too. too much competition in crap selling maybe
Posted by american bandersnatch , Sep 04, 2008 10:18AM
I'm not particularly hompophobic, but the image of Thain waking up in the arms of Blankfein is disturbing.
Posted by guest , Sep 04, 2008 10:24AM
I guess please pretty please with kimchi on top didn't work.
Posted by guest , Sep 04, 2008 10:29AM
@4 -- suck it
-Someone Who Is Not Bess
Posted by guest , Sep 04, 2008 10:58AM
celebrity deathmatch, hotties born in '64:
sarah palin v. michelle obama?
michelle obama?
Posted by guest , Sep 04, 2008 10:59AM
People will shell out good money for assets like a sham-wow or a jar of mayo
Posted by guest , Sep 04, 2008 11:01AM
how come you aren't taking Bill Gross to task for his Pickens-esque rants?
Posted by guest , Sep 04, 2008 11:02AM
@ 7: "homophobic" is bullshit newspeak.
Posted by guest , Sep 04, 2008 11:04AM
celebrity deathmatch, bsd's:
tboone pickens v. bill gross?
tboone pickens?
Posted by guest , Sep 04, 2008 11:23AM
gross by 50.
Posted by guest , Sep 04, 2008 11:35AM
anyone have any info on lone star
Posted by american bandersnatch , Sep 04, 2008 12:18PM
@16, no - but Blue Star is worth looking at.
Posted by guest , Sep 04, 2008 12:41PM
D@mn mongorians...reave merrir arone
Posted by guest , Sep 04, 2008 2:09PM
Shamwow is bullshit. It only pushes the spill around. Exactly what LEH needs.
Posted by guest , Sep 04, 2008 2:43PM
@ 17 thank you. this is the first time I've ever laughed a nice, clean, laugh at a DB post.
***
I don't know what shamwow is. It's probably some perverted gay frat-boy insider joke. But it is a funny word.
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I dunno what's worse. Listening to 1st year masters of the universe pontificate on video games, or listening to people describe their vacations in Atlantic City.