Collateral demand may have forced Merrill into BofA's arms

10/8/2008 | CNBC

Some Merrill Lynch executives said JPMorgan Chase drove the firm into a shotgun wedding with Bank of America by demanding billions of dollars in collateral in early September. About that time, Merrill's stock plummeted, and market observers started wondering whether the firm could weather the storm. Two days after JPMorgan followed up its informal request for more collateral with a formal demand, Bank of America purchased Merrill.

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