Merrill Lynch is next

There is no such thing as conservative in a market that go up only. Just ask any trade, if they have a string of winnings, say 50 in a row, they will throw any risk management rule out of the window.

Quote from ByLoSellHi:

Legg Mason should be fine.

They are pretty conservative (truly), and I highly doubt they bet the house on deadbeat mortgages, as Schwartz and Bear Stearns obviously did.

Merrill? Anything is possible with those numb nuts.
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