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Article: How to cope with seismic shifts in the sector
- Article from:
- The Boston Globe (Boston, MA)
- Article date:
- September 16, 2008
- Author:
CopyrightCopyright 2008 The Boston Globe. Provided by ProQuest LLC. (Hide copyright information)
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The financial turmoil at Merrill Lynch & Co. and Lehman Brothers
Holdings Inc. has turned Wall Street upside down. The crisis is also
spooking Main Street. Here are some answers to questions about how
all of this affects you.
Q. If Merrill Lynch is my stockbroker, should I be concerned?
A. While the nation's largest brokerage has struggled, Bank of
America Corp., the nation's largest bank by deposits (with about
$800 billion), is acquiring Merrill. The deal is expected to shore
up Merrill's finances.
Q. Takeovers can cause chaos. Is my money safe with Merrill?
A. Yes. But there could be disruptions as the companies
themselves reorganize or consolidate offices. Merrill or Bank of
America ...