The Next Meltdown

More

President Obama is speaking tonight, apparently to assure us all that his administration has the financial crisis resolved. Don't bet on it. To see why, let me take you back a couple of years.

In the fall of 2007, facing billions in losses on Merrill Lynch's holdings of toxic assets, then-CEO Stan O'Neal approached his board at least twice to sell Merrill or merge it with a major bank -- and at least twice got rejected.

Jump to comments
Presented by

Derek Thompson is a senior editor at The Atlantic, where he writes about economics, labor markets, and the entertainment business.

Get Today's Top Stories in Your Inbox (preview)

'Stop Telling Women to Smile'

An artist's campaign to end sexual harassment on the streets of NYC.


Elsewhere on the web

Join the Discussion

After you comment, click Post. If you’re not already logged in you will be asked to log in or register. blog comments powered by Disqus

Video

Where Time Comes From

The clocks that coordinate your cellphone, GPS, and more

Video

Computer Vision Syndrome and You

Save your eyes. Take breaks.

Video

What Happens in 60 Seconds

Quantifying human activity around the world

Writers

Up
Down

More in Business

Just In