As details of the government's belated "Federal Toxic Landfill Act" emerge -- that is, the rescue plan put forth by Treasury Secretary Hank Paulson -- many thoughts come to mind but none more often than how ticked-off the troops at the Thundering Herd must be that their chief raised the white flag 3 1/2 days too early.
Had John Thain and the board of Merrill Lynch just hunkered down for a few more days, then their famous white-shirted army of advisors would not be POWs under a new general in Charlotte.
What also strikes me is that the Merrill management ignored the very advice that their brokers were espousing these past few days -- be calm, stay the course, don't panic, don't do anything rash, this too shall pass, etc., etc.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment