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Merril Lynch OWNED BY SINGAPORE???!!!


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In a piece of the DAILY NEWS of NYC, It announced that the GOVERNMENT of SINGAPORE invested 7 BILLION DOLLARS into MERRILL LYNCH.


Basically, the SINGAPORE GOVERNMENT now owns MERRIL LYNCH in the United States.


And with SAUDI ARABIA owning a minority position in CITIBANK.


Who owns CHASE MANHATTAN BANK or JPMOGRAN CHASE as it is now known?









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Analyst says Citi, Merrill, JPM face bigger write-


Analyst says Citi, Merrill, JPM face bigger write-offs




NEW YORK (Reuters) — Citigroup ©, Merrill Lynch (MER) and JPMorgan Chase (JPM) may face larger fourth-quarter debt write-offs than previously expected, and Citigroup may have to slash its dividend 40% to preserve capital, according to a Goldman Sachs analyst.


"It will be a couple of quarters before the current credit crisis is fully digested by the markets," analyst William Tanona wrote on Thursday.


Tanona issued his forecast after banks said they would write off more than $70 billion because of the global credit crunch, as rising mortgage and credit losses led investors to shun debt once thought safe but now deemed risky. Citigroup has replaced Chief Executive Charles Prince with Vikram Pandit, while Merrill replaced Chief Executive Stanley O'Neal with John Thain.


Citigroup, Merrill and JPMorgan did not immediately return calls seeking comment.


Tanona, who rates Citigroup "sell," says the largest U.S. bank may have to write off $18.7 billion this quarter for collateralized debt obligations. That's up from his prior $11 billion forecast, and higher than Citigroup's $8 billion to $11 billion forecast. Tanona boosted his forecast for the bank's fourth-quarter loss to $1.33 a share from 52 cents.


FIND MORE STORIES IN: Citigroup | Merrill | Jpmorgan | John Thain


The analyst also said Citigroup may in 2008 cut its 54-cents-per-share quarterly dividend, equal to a 7.1% yield, to help raise or preserve another $5 billion to $10 billion of capital. In November, Citigroup shored up capital by selling a $7.5 billion stake to Abu Dhabi's government.


Tanona said Merrill, rated "neutral," may write off $11.5 billion for CDOs this quarter, up from his prior $6 billion forecast, as Thain tries to clean up problems now rather than let them fester in 2008. The analyst expects a fourth-quarter loss of $7.00 per share, up from his prior $1.50 forecast.


Brad Hintz, a Sanford C. Bernstein analyst, separately on Thursday predicted a $10 billion fourth-quarter write-off at Merrill, leading to a $5.10 per share quarterly loss.


Merrill on Monday announced a $6.2 billion capital infusion from Singapore's government and money manager Davis Selected Advisers.


Tanona also doubled his forecast for fourth-quarter CDO losses at JPMorgan to $3.4 billion from $1.7 billion. He cut his forecast for fourth-quarter profit to 65 cents a share from $1.04. The analyst rates JPMorgan "neutral."


Through Wednesday, shares of Citigroup, Merrill and JPMorgan were down a respective 45%, 41% and 7% this year.


Copyright 2007 Reuters Limited. Click for Restrictions.




It looks like the Jewish Banking Illuminati (The Federal Reserve - Banking Families) plans to make "everyone in the U.S." in massive debt and foreclosed homes HAS BACKFIRED>


Too bad, they are having SUCH FINANCIAL PROBLEMS.







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Merrill Lynch gets huge boost-6.2 Billion Singapor


Merrill Lynch gets huge boost






Tuesday, December 25th 2007, 4:00 AM


It hasn't taken John Thain long to put his stamp on the world's largest brokerage.


After being named chairman and chief executive of Merrill Lynch & Co. just three weeks ago, Thain on Monday secured a capital infusion worth up to $6.2 billion and sold off one of Merrill's lending units. His fast action came at a critical time; some analysts think Merrill is facing credit-related writedowns of $10 billion for the fourth quarter.


Merrill said it will receive a cash infusion from Singapore's Temasek Holdings and U.S. money manager Davis Selected Advisors. It also sold its commercial finance business to General Electric Co.'s finance arm for an undisclosed price.


But Merrill shares, which initially rose on news of the investment, fell as it became clear Temasek and Davis bought in at a 14 percent discount, the price Merrill apparently had to pay to bolster its balance sheet.


Thain initiated both deals upon taking over from ousted CEO Stan O'Neal on Dec. 1.


"One of my first priorities at Merrill Lynch was to strengthen the firm's balance sheet, and we have made great progress toward that by bolstering our capital position through these investments and our announced sale of Merrill Lynch Capital," he said in a statement.


Both steps are expected to help shore up Merrill's balance sheet, which has been battered by the global credit turmoil. Deteriorating mortgage-related investments and corporate loans caused the biggest loss in Merrill's 93-year history during the third quarter, as it suffered $8.4 billion of writedowns.


With fourth-quarter results set to be released in January, the investment and asset sale were seen as getting ahead of any potential bad news. And, it also demonstrates that Thain isn't wasting time getting the investment bank's financial house in order.


"On balance, this continues to signal that problems are significant, but that (management) is taking steps to get beyond it," said Fox-Pitt, Kelton analyst David Trone in a note to clients.


However, he said the total capital-raising effort would dilute existing Merrill shareholders by about 13 percent. Merrill shares slipped $1.64, or 3 percent, to $53.90.


Temasek, a government sponsored investment fund, will acquire a 9.9 percent stake at $48 per share for $4.4 billion - and can purchase an additional $600 million by March 28. Davis Advisors is a closely held company that was founded by former Bank of New York executive Shelby M.C. Davis. The stock purchase represents a 2.5 percent stake in the investment bank.


"We've seen what John Thain has done over his career, and he has a proven history of creating value for shareholders," said Ken Charles Feinberg, a co-portfolio manager at Davis who helped orchestrate the deal. "Over the long term, our shareholders will do very well."


While the Davis component of the deal is unusual - most institutions raising capital lately are doing so from state-owned funds - the need to raise money in and of itself was not unique to Merrill.


Global banks have written down an estimated $105 billion this year alone from exposure to subprime loans and other debt commitments. And, that has caused a number of financial companies to secure deals involving infusions from state-owned investment funds - mostly from Asia and


the Middle East.


Government-sponsored investment vehicles have invested more than $25 billion in Wall Street since the mortgage crisis began this summer. There was speculation last week Temasek would be the next to make a move.


Temasek has a track record of making large investments in financial institutions, with holdings in Britain's Standard Chartered PLC and South Korea's Hana Financial Group. It was set up in 1974 to manage Singapore's assets, and now controls a portfolio of over $100 billion


worth of investments.


It is not the only government fund making aggressive moves into high finance, though. Morgan Stanley last Wednesday announced a $5 billion investment from China's government-controlled investment vehicle to help replenish its capital.


In October, Bear Stearns Cos. agreed to a $1 billion investment from China's government-controlled Citic Securities Co. Citigroup Inc. received a $7.5 billion capital infusion from the investment arm of the Abu Dhabi government last month.


UBS AG last week announced that the Government of Singapore Investment Corp., the city-state's other state investment fund, is investing $9.75 billion for a 9 percent stake in the Swiss banking company.




It was 6.2 Billion investment, instead of the 7 Billion I quoted...


What's .8 Billion when you are talking about America's FORMER TOP BROKERAGE FIRM. Becuase it is FOREIGN OWNED NOW.





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