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Merrill Lynch is Full of Bull…
By JLP | November 27, 2007
Flipping through the WSJ tonight, I came across a full-page ad for Merrill Lynch (page A7 in the paper if you’re interested). The ad says this:
In 1915, Charlie Merrill said,
“The interests of our clients always come first.”
Today we make the same
unwavering
declaration:
The interests of our clients always come first.
Then, further down the page is this little paragraph:
In our 93-year history we have never lost our true focus that our founder put so succinctly. Our commitment is why our clients have entrusted us with nearly $2 trillion in assets. It’s why more and more people are achieving the life they want to live through their partnership with a Merrill Lynch Financial Advisor. It’s why we are bullish of Merrill Lynch.
Funny how they forgot about the $100 million fine they had to pay in 2002:
It’s important to note that ML never admitted to doing anything wrong. However, it doesn’t take a genius to figure out that they WERE NOT putting their client’s first when they were promoting crap in order to earn underwriting business. That said, I would have a lot more respect for ML if they would have said something like:
I guess that would be expecting too much.
Topics: Miscellaneous |