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Answers I Really Wanna Know: Merrill's Downgrades, Subprime Exposure Spreading...


Did you see that Merrill Lynch has downgraded Bear Stearns, Lehman and Citigroup this morning?

  • Did you hear the incremental negative news coming out of the Carlyle Group, State Street and DBS (Singapore's largest bank)?

  • Wasn't the resignation of Barclay's European CDO honcho - flagged last week in the 'Ville after it was forced to collapse (at least two) structured vehicles due to its inability to raise short-term financing - an ursine whisper that something was amiss?

  • Even as they say "Hey-wasn't me!"?

  • Shouldn't all these stories serve as simple scribbles to the already heavy writing on the wall?

  • Nyet? How about the $10.2 billion liquidity infusion by the Russian Central Bank last night?

  • Who gets a pimple at 38 - honestly!?!?

  • Did you see that Merrill Lynch has downgraded Bear Stearns, Lehman and Citigroup this morning?

  • In an interwoven financial fabric, wouldn't that also be bad for Merrill?

  • We knew quarters across the Street would be bunk but how bunk are they?

  • Are clams happy?

  • So the New York Times thinks the Home Depot deal renegotiation is an isolated incident?

  • Does that mean that other deals won't have the latitude to shift covenants and will simply go poof?

  • 256 buybacks totaling $101.1 billion were announced during the previous five weeks?

  • Countrywide Financial is 18% lower than the opening print following the Bank of America infusion?

  • What's gonna happen if that puppy breaks the convert price ($18)?

  • Did I really find my entire stash of linen shirts three days before they become a fashion faux pas?

  • Is it me or are more and more folks having panic attacks these days?

  • How does that jibe with the uptick in societal acrimony that we've been monitoring for the last few years?

  • Are you watching S&P 1457 (200-day and trendline) and the BKX pennant as technical toggles in our midst?

  • But didn't Alan Greenspan tell us that the yield curve doesn't matter?

  • Was that before or after he urged homeowners to flip into adjustable-rate mortgages?

  • How many hedge fund managers are gonna spend Labor Day listening to Marley?

  • Will 2007 emerge as the Year of the Hump Back?

  • Did last week's lift alleviate the biggest thorn in Boo's paw?

  • How psyched would I be if I were as thin as this tape?


No positions in stocks mentioned.

Todd Harrison is the founder and Chief Executive Officer of Minyanville. Prior to his current role, Mr. Harrison was President and head trader at a $400 million dollar New York-based hedge fund. Todd welcomes your comments and/or feedback at

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

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