So it seems there's been a slight mix up at Merrill vis-a-vis capital. CEO John Thain was under the impression that they had some*, while senior executives beg to differ. Sources tell CNBC's Charlie Gasparino that after Thain told anyone who would listen that things were a-okay, MER Chief Financial Officer Nelson Chai muttered to himself, "I wish he hadn't say that," before sighing audibly, and strategizing new and inventive ways to spin what many believe will be a $6.5 billion writedown announcement this week. Close personal friend of DealBreaker E. Stan O'Neal tells us that Thain had been under the impression that he'd be able to sell the stuff he stole from his daughter's apartment for at least twenty grand, when in reality, the computer, iPod and tank tops didn't go for more than 9.
Merrill May Need to Raise More Capital, Insiders Say [CNBC]
*or "enough"