09/19/2008 05:12 am ET Updated May 25, 2011

Merrill Lynch Might Signal Much Bleaker Future: Rumor

Is Merrill's hiring freeze just the tip of the iceberg?

That's the claim of a Merrill Lynch banker who has written to Here Is The City, a financial news and gossip site based in Britain.

"I wonder what the implications really are, and am concerned that the freeze itself is just a marker which firm executives are putting down to signal that there are much tougher times ahead," the banker writes.

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