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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