COVER OF TODAY'S JOURNAL

Pretty scary stuff

Bank of America and Merrill Lynch to Merge?

The Wall Street Journal Online reports that Merrill Lynch and BofA are in talks to merge. Personally, I think this sucks; but, if it's for the better good of mankind then let it be.

Merrill Pays New Employee $40 Million for 5 Months of Work

I guess you'll only see things like this in a few places: the NBA, the NFL, MLB and on Wall Street. A franchise that is losing money decides to dish out millions to a new start player in hopes of winning in the future.

I mean, the Knicks do it every time they renew Marbury's contract. Well, I guess now it's Merrill's turn as they recently hired Thomas Montag, a Goldman alum, as the new head of sales.

So yup, this guys is definitely balling out of control and can even keep the $40 million if he decides to leave before the end of the year.

Damn, why couldn't I have this guy's job?

Could Merrill Be the Next to Blow?

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.