Is Merrill Lynch a going concern?

With the recent SEC inquiry into off balance sheet CDO offloading, what are the chances of a Merrill either a) going bankrupt or b) merging with another bank?

And how would that affect the junior guys? In terms of pay/job cuts?

In other words, is Merrill the next Drexel Burnham or DLJ? What happened to the ex-Drezel and DLJ analysts?

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