Merrill Lynch Settles

from the slap-on-the-wrist dept

Unfortunately, it looks like Merrill Lynch and NY State worked out a settlement deal. They’re going to pay out a $100 million fine, and (of course) won’t be admitting to any wrongdoing. They say they’re going to change things as well, but the changes don’t seem too extreme. In the end, the incentives for the banking industry to hype up stocks is still there, and it’s unlikely that this $100 million fine is going to change anything.

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