Merrill Used Same Alleged Fraud as Goldman, Bank Says (Update1)

Really? This is why the stock market reacted badly to the initial news. It already knew this. Where there's one rat, there's bound to be thousands more in the shadows. From the perspective of the liquidity based recovery - equity driven, fragile and jobless this kangaroo court play better get lost in the shuffle quickly.

Merrill Lynch & Co. engaged in the same investor fraud that the U.S. Securities and Exchange Commission accused Goldman Sachs Group Inc. of committing, according to a bank that sued the firm in New York last year.

Source: bloomberg.com