Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Thursday, May 8, 2008

Thain Says Merrill's Capital is Adequate

Merrill CEO John Thain said yesterday that the company has $44 billion of equity capital, an all-time high, and that it does not need to raise any more.  He also stated that he expects Merrill's clients' auction-rate securities to be fully refinanced by their issuers within a year.  WSJ, Merrill's Thain Backs Auction-Rate Securities.

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