Crash of the Titans

Greed, Hubris, the Fall of Merrill Lynch, and the Near-Collapse of Bank of America

USA Today’s First Monday Section Features “Crash of the Titans”

USA Today featured "Crash of the Titans" in its First Monday roundup of November's notable business related books, TV and movies. Says the paper:

"[Author Greg] Farrell tells what really caused the demise [of Merrill Lynch] and how Stan O'Neal, Merrill's CEO, reached out to Warren Buffett for help. He traces how O'Neal's successor, John Thain, was forced to sell to Bank of America and dishes on the clash — "hillbillies" vs. "suits" — between Bank of America executives in Charlotte and their new Wall Street partners."

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Author, Greg Farrell

GREG FARRELL is a correspondent for the Financial Times. In January 2009, he broke the news that Merrill Lynch had paid out its 2008 bonuses a month ahead of schedule, in December, even though Merrill was in the process of losing $28 billion for the year, and Bank of America needed an extra $20 billion in taxpayer funds to complete its acquisition of the firm. That story sparked an investigation by New York attorney general Andrew Cuomo. Greg is a past winner of the American Business Press’s Jesse Neal Award for investigative reporting and a recipient of the Knight-Bagehot Fellowship for business journalism. He earned a BA from Harvard University and an MBA from the Graduate School of Business at Columbia University.