Financials: Will Bank of America and Merrill Lynch Eventually Go Their Separate Ways?
Industry Focus
The Motley Fool
4.6 • 854 Ratings
🗓️ 9 May 2016
⏱️ 23 minutes
🧾️ Download transcript
Summary
There's reason to believe that they will.
It's been nearly eight years since the financial crisis, yet Bank of America (NYSE: BAC) is still earning half as much money as it should be given its size. In this episode of Industry Focus: Financials, The Motley Fool's Gaby Lapera and John Maxfield discuss the role that Bank of America's 2008 purchase of Merrill Lynch plays in its subpar profitability. Thanks to Audible for supporting this episode. Get a free 30-day trial at audible.com/fool.
Transcript
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| 0:00.0 | This episode is brought to you by audible.com. |
| 0:03.0 | For a 30-day free trial. |
| 0:06.0 | Hello everyone, welcome to Industry Focus Financial's Edition. |
| 0:10.0 | Today is May 9, 2016. |
| 0:13.1 | My name is Gabby Lapera. |
| 0:14.6 | I'm in the studio, and joining me on the phone |
| 0:16.8 | is Financials Analysts John Maxfield. |
| 0:18.8 | How you doing? |
| 0:20.3 | I'm doing great, Gabby, happy to be here as always. |
| 0:22.8 | Fantastic. I am also very excited to be here. You guys will have to excuse any auditory vocalized |
| 0:29.2 | pauses that I might take because I haven't had any caffeine yet as I was explaining to John and |
| 0:34.6 | I'm not at my best and brightest without caffeine so here we go rolling right |
| 0:40.4 | into our story of the day, what is, |
| 0:43.2 | we're gonna be talking about Bank of America |
| 0:45.4 | and Merrill Lynch, as many of you may have noticed |
| 0:49.5 | if you're a Bank of America customer, |
| 0:51.0 | Merrill Lynch and Bank of America are in some way joined and I think Maxfield can give us a little |
| 0:58.0 | bit more background on exactly how they came to be together right? |
| 1:02.4 | That's right. |
| 1:03.4 | So Bank of America purchased Merrill Lynch in September 2008. |
| 1:08.1 | And here, just to kind of set the scene a little bit more, |
| 1:11.8 | one of the things we've seen in the eight years since the financial |
... |
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