Merrill Lynch executives had incriminating emails revealed in a lawsuit filed by the Commonwealth of Massachusetts regarding the shutdown of the auction rate security market. Probably the best one:
“Come on down and visit us in the vomitorium.”
This was from a managing director in the auction rate group at a time when Merrill was pushing clients to buy these securities.
I’m happy that these emails were found, since I love nothing more than seeing a highly-paid yet morally-suspect investment banker do a perp walk, but I have to wonder why any person who can read the newspaper still sends messages like that via email. They always get discovered, people!
Thoughtbasket 