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Merrill Lynch Is Sorry About Emails
from the no,-they're-sorry-they-got-caught dept
It only took Merrill Lynch 2 and a half weeks to say they were sorry over the internal emails that made it clear they knew they were recommending and hyping junk dot com stocks. If you'll remember, at first they were very defensive, saying that it was all taken out of context (though, it's tough to understand how calling a stock "a piece of crap" can be taken out of context). Now, as they realize they may have to pay fines in the range of $2 billion, they're suddenly a bit more apologetic. Of course, if they were really sorry, they would have admitted to this earlier. They're just sorry they got caught.
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this is sick
Read the comments carefully - they are not even apologizing for defrauding common investors out of billions - they are apologizing to their own shareholders for getting caught. I read the comments as suggesting not that they will stop lying and promoting stock they have an interest in, but that they will stop associates from sending email that tells the truth.
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