Merrill Gets Cash Infusion From Kuwait, Korea, Japan

AP:

Merrill Lynch & Co. said Tuesday that it is getting a cash infusion of $6.6 billion from three foreign investment funds.

The Korean Investment Corp., Kuwait Investment Authority and Mizuho Corporate Bank will receive a special class of stock for their combined $6.6 billion investment. All will be passive investors and none will have any rights of control.

Both the Korean and Kuwaiti investment groups are owned by the state governments. Mizuho is a Japanese investment bank.

Read the whole story: AP

Comments

[themodernleader]

Before our eyes the backbone of our once invincible financial empire is being bought by foreign governments. It is fair to state that never in the history of the human race has a government so hastily brought a mighty country to devestation and ruin. And our leaders and aspiring leaders never say a discouraging or questioning word about unfolding events that will most likely unhinge the world.

[BuyRubles]

when will politicians stop saying the United States' economy is the envy of the world. yes, we are the richest country, but we are debt laden. if other countries were allowed to borrow as much as the U.S. they would be well off too.

[geobushono]

Thank you Robert Rubin, now get up on stage and stand tall with bill clinton.
...and tell us again about your $17,000,000 paycheck for last year....what was it you did?