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.

Add Your Comment

Have a Techdirt Account? Sign in now. Want one? Register here
Get Techdirt’s Daily Email
Save me a cookie
  • Note: A CRLF will be replaced by a break tag (<br>), all other allowable HTML will remain intact
  • Allowed HTML Tags: <b> <i> <a> <em> <br> <strong> <blockquote> <hr> <tt>
Follow Techdirt
Essential Reading
Techdirt Deals
Techdirt Insider Chat
Techdirt Reading List
Recent Stories
Support Techdirt - Get Great Stuff!


Email This

This feature is only available to registered users. Register or sign in to use it.