I am sorry I am Merrill

J

jem

Hey all you people that listened to us and thought we were sincere in our desire to help you plan for the future while we were just trying to screw you out of your money.


We are sorry.
 
Have we suddenly turned into Japan where all manner of corporate wrongdoing is excused by an elaborate apology? Of course, there the CEO usually has the grace to resign.

I also love the concept of saying, "Hey losers, we're really very sorry that we stupidly allowed you to see what rotten crooks we really are. We'll try to keep it better hidden from now on."
 
RE> Have we suddenly turned into Japan where all manner of corporate wrongdoing is excused by an elaborate apology? Of course, there the CEO usually has the grace to resign.

Didn't the Japanese have a wonderfull tradition of "Sabukoo" or "ritual suicide", Hari' Kari' ...you know...it's too bad some traditions die away, Enron executives and Merrill, GS and a few other analyst's too could learn from this wonderfull Japanese tradition.

BTW - I'm only "slightly" kidding...lol

mrktwiz
 
So far investors have been remarkably tolerant of getting screwed by the IPO scam. Maybe with these latest revelations the trial lawyers can turn this into Wall Street's asbestos.
 
Originally posted by AAAintheBeltway
So far investors have been remarkably tolerant of getting screwed by the IPO scam. Maybe with these latest revelations the trial lawyers can turn this into Wall Street's asbestos.
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I hope they have the sense not to make this into just another bonanza for the trial lawyers. Lerach & Co. are no less scumbags than Merrill & Co.

It should be interesting to see how the street is transformed. We've had a bull market for the past two decades give or take, now we are in new territory (bear and/or no man's land). Chop n' slop is much less forgiving, how will it affect the mechanics of the street?

I also wonder whether or not we'll see a bubble that big again within the span of our trading careers. On the one hand, the baby boomers have all gotten burned in the same way that their grandparents were burned by the depression, leaving them skittish and scared. On the other hand, generation X probably didn't learn the lesson fully- and the next bull market will probably be a lot more global. Can you imagine how nuts it will be when a hundred million chinese guys get into the game?
 
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