Bulge bracket and multinational firm Merrill Lynch has recently announced that they will be be selling over $30 billion in mortgage assets at a huge loss.
The firm currently plans to try to offset this loss by raising and addition $8 billion in new common stock.
I'd hate to say it because Merrill is my favorite bank on the Street; but, with all the stories I've been reading about this firm in the paper lately I wouldn't be surprised if they blew up.
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