Extra Credit, Thursday Edition

Three Banks Complete Deals: BofA’s acquisition of Merrill Lynch has now closed; so has Wells Fargo’s acquisition of Wachovia. That sigh of relief you’re hearing is coming from arbitrageurs who were long MER and WB.

Relitigating 1998 at the end of 2008: Setser on Cowen and moral hazard.

Zero Is Not A Lower Bound For Interest Rates: I’m not sure I agree with this, but it’s an interesting idea.

Economics Makes My Brain Hurt: Wilmott has little time for economists.

A Year Ticks Over, and Zunes Get Hiccups: Zunes stopped working on January 1, and Microsoft’s reputation takes yet another blow.

Good morning 2009: "The smart money expected a correction back to 1931, or 1974, or 1982. 2009 wasn’t even in the running. But here we are. Anybody got a road map?"

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