Skip to main content

The ‘Subsidy’: How a Handful of Merrill Lynch Bankers Helped Blow Up Their Own Firm - ProPublica

The ‘Subsidy’: How a Handful of Merrill Lynch Bankers Helped Blow Up Their Own Firm - ProPublica: "The group, created in 2006, accepted tens of billions of dollars of Merrill's Triple A-rated mortgage-backed assets, with disastrous results. The value of the securities fell to pennies on the dollar and helped to sink the iconic firm. Merrill was sold to Bank of America, which was in turn bailed out by taxpayers.

What became of the bankers who created this arrangement and the traders who took the now-toxic assets? They walked away with millions. Some still hold senior positions at prominent financial firms.

- Sent using Google Toolbar"

Comments

Post a Comment

Popular posts from this blog

Israeli school segregated Ethiopian students » Ethiopian Review

Israeli school segregated Ethiopian students » Ethiopian Review : "The placement of four Ethiopian girls in a separate class from their peers at a Petah Tikva grade school has sparked accusations of segregation on Tuesday morning following a report in Yediot Aharonot. According to ‘Hamerhav’ principal, Rabbi Yeshiyahu Granvich, complete integration of the girls was impossible. The reason being, said municipal workers, was that the students were not observant enough, nor did their families belong to the national-religious movement that the school was founded upon. Among the differences in the daily school life of the girls, a single teacher was responsible to teach them all of their subjects. Worse yet, the four were allotted separate recess hours and were driven to and from school separately. Such action has been labeled by observers as “apartheid.”"
Post a Comment
Read more

Iraqi weapons 'expert' unmasked as a fraud - Independent Online Edition > Americas

Iraqi weapons 'expert' unmasked as a fraud - Independent Online Edition > Americas : "The Iraqi defector whose claims regarding Saddam Hussein's biological warfare capabilities were central to the US government's case for the 2003 invasion, despite repeated warnings that they were dubious, has been unmasked by a television documentary. The informer, codenamed Curveball was Rafid Ahmed Alwan who, in 1999, turned up at a refugee centre in Germany seeking political asylum. He went on to convince the Pentagon he was a brilliant chemist who had helped develop mobile biological warfare laboratories."
Post a Comment
Read more