I'm sorry, but every time I see an ad for "Merrill Lynch Wealth Management" I have to laugh. Merrill Lynch is one of those companies that couldn't manage it own wealth, and so it ended up being bought up by Bank of America under the cloud of tax bailouts.
I laugh, but there are a lot of former employees who probably aren't laughing. Managers failed at their duties, and investors failed at their duty to known in what they were investing. And, of course, people were greedy in occupying houses they couldn't afford on the hope that the real estate market would keep skyrocketing.
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