Merrill Lynch continues to be bullish on Merrill Lynch

Merrill Lynch, which has always stood as a bastion of confidence on Wall Street's Kuiranbudong, has been able to stand in the middle of repeated financial crises. The subprime crisis, however, has almost destroyed the image of Merrill Lynch, with as much as $9 billion trillion in losses in the third quarter causing the 6-year-old CEO, Stan O ' Neal, to step down. Merrill Lynch's handling of its own image crisis seems to be a lot more questionable.

In a press release on October 30 announcing the resignation of the CEO, Merrill acknowledged that "Stan led Merrill Lynch's successful transition" is now quite anachronistic. According to Shawn Tully, chief editor of Fortune magazine, Merrill's transformation is why the investment bank is suffering today. Merrill Lynch's main source of income in the past was fees for services in the financial sector, such as investment, and Merrill, under O ' Neill, began to engage more in relatively risky deals, such as http://www.aliyun.com/zixun/aggregation/33695.html "> 1.3 billion dollars to acquire the biggest subprime trader first Franklin. Therefore, such a statement is rather sad to laugh.

The other thing that will cause investors to be furious is Merrill Lynch's corporate image advertisement in the New York Times titled "Why Merrill Lynch continues to be bullish on Merrill Lynch" (Why Merrill Lynch's e.g. bullish on Merrill Lynch), The ad calls for people to continue to look at the future of Merrill Lynch, Advertising said: "We have to remember that investment is a marathon, need to be treated in a long-term perspective, patience can bring you rewards." Merrill Lynch used to tell investors to "Watch America", it's a desperate call for a huge loss of investment (and a huge number in the fourth quarter) and for people to "look out for Merrill", a bit of a feeling that Merrill is on the verge of collapse.

                                                                                                                                                                                             (written in 2007-11-15)