How much capital does Bank of America (Ticker: BAC) need? That question continues to haunt ML, despite Buffett's injection of $5bn in preferred shares (which doesn't count in capital under Basel III). ML FAs might welcome the spinoff despite the relatively clean integration into the bank.
A member of our readers' forum made that point yesterday morning, citing a CNBC article. BofA CEO Moinyhan said recently there would be no sale of the bank's best-performing unit.
Are Merrill advisors as happy as management says they are? I hear that BofA leaves ML alone --- why screw up a good thing? But, our forumn poster wrote, "Let's cross our fingers and hope we all make it to divorce court." I asked this question a week or so ago.
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