Should I be worried about Bank of America buying Merrill Lynch?My parents have quite a lot of stock in Merrill Lynch (which is something I don't fully understand). My Dad was talking to my Mom last night about it, and I need to know if all this worrying is for nothing. |
If Merrill Lynch didn't get bought they'd probably file for bankruptcy- in that case your parents could've potentially lost a whole lot.
Since they've been bought, that means they can sort of use Bank of America as their mom, and use their money to fix some problems, though they wont' be able to fix everythying.
In either case they're probably losing quite a bit... but less with Bank of America than other potential scenarios.
Actually believe it or not Merrill's stock is up today while the rest of the financial world is taking a hit. At least they got bought. I would be really worried if they didn't.
at lease Merrill Lynch has a buyer.
Your mom and dad should, for sure. No, the worrying is not for nothing. The idiots on Wall Street have for sure screwed up big time. Now the rest of us are going to pay.
they will lose money but not all the money...
