http://www.therealestatebloggers.com/2007/10/04/wall-street-fall-out-over-subprime-mess-2-execs-at-merrill-fired/ Real Estate Blog, Mortgage, and Development News Sun, 21 Mar 2010 17:00:51 +0000 http://wordpress.org/?v=2.9.1 hourly 1 http://www.therealestatebloggers.com/2007/10/04/wall-street-fall-out-over-subprime-mess-2-execs-at-merrill-fired/comment-page-1/#comment-80787 More Real Estate Info » Wall Street Fall Out Over Subprime Mess - 2 Execs at Merrill Fired Sat, 06 Oct 2007 14:05:43 +0000 http://www.therealestatebloggers.com/2007/10/04/wall-street-fall-out-over-subprime-mess-2-execs-at-merrill-fired/#comment-80787 [...] Tom wrote an interesting post today onHere’s a quick excerptVery rarely do we ever see Wall Street fire executives. We hear lots of talk about pursuing other opportunities or spending time with the family, but rarely that an executive was fired due to poor performance. Lower echelon employees get the ax all the time, but executives tend to slide out unless they commit fraud or sexual harassment. So Merrill Lynch’s firing of two top executives was a surprise to the street. When Osman Semerci and Dale Lattanzio were fired over the losses that Merrill Lynch will be facing over the coming years due to bets made on subprime loans you know that the proverbial excrement in flying. These firings coming just before Merrill’s 3rd quarter earnings report portends bad news for the firm. With a 4 billion dollar write down of bad debt already announced my guess is that Merrill has even more problems in it’s cupboard which will come […] [...] [...] Tom wrote an interesting post today onHere’s a quick excerptVery rarely do we ever see Wall Street fire executives. We hear lots of talk about pursuing other opportunities or spending time with the family, but rarely that an executive was fired due to poor performance. Lower echelon employees get the ax all the time, but executives tend to slide out unless they commit fraud or sexual harassment. So Merrill Lynch’s firing of two top executives was a surprise to the street. When Osman Semerci and Dale Lattanzio were fired over the losses that Merrill Lynch will be facing over the coming years due to bets made on subprime loans you know that the proverbial excrement in flying. These firings coming just before Merrill’s 3rd quarter earnings report portends bad news for the firm. With a 4 billion dollar write down of bad debt already announced my guess is that Merrill has even more problems in it’s cupboard which will come […] [...]

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