Now that Merrill Lynch has upgraded every single REIT and has a price target of +/- infinity, (conveniently pocketing over $100 million in the process), the company can focus on more pressing issues at hand. And no, not redecorating Thain's legacy office in the neo-uber-criminal style). Instead, the bank has sent not one, not two, but a whopping six cease and desist order to Zero Hedge. As the recently acquired bank can finally afford to pay lawyers again compliments of Schmidt and Sakwa, it has decided to pursue the source of all evil: all those David Rosenberg posts Zero Hedge has published, that seek to educate and provide some color to otherwise confused and CNBC abused readers and investors.
If it is any consolation, now that David is literally out of the building, ML can sleep soundly that ZH will only focus on the bank's daily REIT upgrades (no, we have not forgotten about those) as it is alas the only source amusement coming out of doomed mother Merrill.
So, dear readers, please be aware that the following six posts will be removed at some point tonight as Zero Hedge is unable to underwrite and collect on average $10 million per REIT dilution events and thus afford any lawyers (except potentially for White & Case's Tom Lauria).
As for the 500 or so websites that fervently and automatically repost and redistribute ZH content, well, those we have no control over.