Merrill relief another illusion in hall of mirrors ?

Reuters
30 Jul 2008

NEW YORK (Reuters) - U.S. bank stocks may be staging another suckers' rally.

The launchpad for this week's recovery in financial sector shares was another huge $5.7 billion writedown from Merrill Lynch (MER.N: Quote, Profile, Research, Stock Buzz), which was swiftly followed by what is fast becoming Wall Street's motto in the year-long credit crisis: the worst is over.

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