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Merrill Panic May Mark Bottom of Stock Market

Once regaled for cavalier confidence, CEO's chief cuts losses

By Clay Dillow, Newser Staff

Posted Aug 1, 2008 10:30 AM CDT

(Newser) – Merrill Lynch CEO John Thain has seen better days, Floyd Norris writes in the New York Times. He's gone from “cockiness to capitulation. Distinction to desperation.” Thain recently unloaded a bundle of his company’s securities for 22 cents on the dollar and... Read full story »

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Merrill Panic May Mark Bottom of Stock Market

Once regaled for cavalier confidence, CEO's chief cuts losses

Merrill Lynch • CDO • mortgage debt • mortgage backed securities • John Thain • financial sector • subprime crisis • stock offering • banking industry

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Undercapitalized banks stand to benefit from $1T infusion

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Banks, like homeowners, refused to believe how bad things really are

Lone Star Buys Big at Mortgage Fire Sale

Texas fund grabs $6.7B in Merrill castoffs, is hungry for more

Merrill Lynch Posts Steep Q1 Loss

$9B in writedowns guts brokerage's earnings

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