NEW YORK (Reuters) - Merrill Lynch's agreement to sell $30.6 billion of toxic securities gives away the bank's potential profits on the securities and leaves it on the hook for most of the risk, strategists at Bank of America wrote on Wednesday.
Merrill Lynch & Co Inchas financed 75 percent of the sale of the securities, meaning it is on the hook if the assets decline by more than 5 cents on the dollar, Bank of America strategist Jeffrey Rosenberg wrote.
