Why BofA Can't Tell Merrill Brokers What to Do

Joe Giannone has scored a fascinating interview with Lyle LaMothe, the former head of Merrill Lynchâ??s Thundering Herd. As John Carney says, the interview makes it very clear, as was suspected at the time, that he left because he was very uncomfortable with edicts surrounding synergies and cross-selling and the like after Merrill Lynch was bought by Bank of America. . .