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Analyst says Bank of America is blowing up Merrill Lynch

Wall Street Bull

Nearly eight years after Bank of America purchased Merrill Lynch, one of the nation's leading bank analysts, Dick Bove, recently wrote that "Bank of America is simply blowing up the Merrill franchise presumably because it does not like the business or it does not know how to manage it."

New York City cuts Morgan Stanley

Morgan Stanley HQ

New York City cut Morgan Stanley from the ranks of its senior general obligation and Transitional Finance Authority bond underwriters, while elevating Samuel A. Ramirez & Co. and Royal Bank of Canada.