Merrill, Wachovia in Danger of Failing

Most of the headlines this morning are about tough times at Lehman. As a consequence, others are getting lost in the shuffle:

Merrill, Wachovia in Danger of Failing: "The amount of cash written off Merrill Lynch and Wachovia's balance sheets since the onset of the credit crisis still far outweighs the amount of cash they have raised, suggesting the need for fresh capital injections."

As has been mentioned on this blog, John Thain is in definite need of Pinocchio nose-elongation surgery.