Merrill Lynch - a loss of $15.31 Billion Q4

Bank of America, the Charlotte, N.C. bank noted that preliminary Merrill Lynch results indicate a fourth-quarter loss of $15.31 billion; the Merrill results weren't reflected in B. of A.'s quarterly numbers.

http://www.marketwatch.com/News/Story/Story.aspx?guid={6F0B3B65-E944-4E47-BCEE-4FC48455790C}

There is no reason for Merrill to exist anymore...end of story

On the other hand, they picked up one of the best brokerage and wealth management businesses on the street for a bargain (though in hindsight it is easy to say they stepped in far too early)...

... and don't forget the FED & FDIC have agreed to swallow 90% of the losses > $10bn...

... On the whole, I think that BoA are getting a bit of hard press; sure, they have stretched themselves a little thin with Merrill AND Countrywide, but they know that the Fed know that these deals can't collapse and we can't have another Lehman.

In 10 years time, people will look back and call the move inspired.