Posted on 04/09/2008 1:12:20 PM PDT by Proud_USA_Republican
Merrill Lynch is likely to post a first-quarter loss on further writedowns of between $6 billion and $6.5 billion, according to senior executives at the company. Unlike earlier writedowns at Merrill (NYSE: mer) and other Wall Street investment banks, the latest round of write downs are not solely tied to subprime loans, but instead are linked to commercial real-estate debt exposure and other types of loans, these people said.
(Excerpt) Read more at biz.yahoo.com ...
Merrill handles my wife’s 401k. Anything she can do to change that?
bkmark for tonight. Thanks.
My 401K is with Fidelity. I think they are one of the best in the business at 401K management. There customer service is excellent, even though the only time I’ve had to call them is when I need contribution percentages changed from funds. Besides that, I manage everything else on-line and choose what funds I invest it.
If the 401K service is provided through her employer and she’s getting a contribution match, find out if it can be moved to another 401K management company and they will still match.
I’ve never seen a company more nickel and dime their customers than Merrill Lynch. Their investment advisors are a bunch of commission hungry clowns.
My mom was in her 60’s, and during the dot com bubble, they kept trying to get her to put her entire retirement savings in speculative tech stocks they were pushing. Insanity.
Take out a loan from it and park it elsewhere, like in GNMA or short term T-bills.
I have no use for them either - my mortgage is with Wilshire Credit Corporation (owned by Merrill) and their customer service is the worst I have ever experienced in my (long) life.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.