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Computers Are the Only Worthwhile Asset Banks Have Left

September 22, 2008
by John Naughton
Columnist, The Guardian

John Naughton

Every cloud has a silver lining. Ask the cybersquatters. Even as the short-selling vultures began circling Lehman Brothers, HBOS, Merrill Lynch and company, a legion of entrepreneurs began betting on domain names for hastily merged financial institutions. For example, when Barclays and Bank of America began to emerge as buyers for Lehman, names such as barclayslehman.com and bofalehman.com were promptly registered by enterprising hopefuls.

Some of these domains were being offered for sale on eBay last week. For example, www.bankofamericamerrilllynch.com was available at a starting bid of $1,500. “With a deal between Bank of America and Merrill Lynch NOW ANNOUNCED,” burbled the seller, “this domain name will soon be incredibly popular. This is the only domain name that conveys the full picture, using the name of both firms. … This is the most comprehensive and commonsensical domain name available concerning the MERGER OF BANK OF AMERICA CORP AND MERRILL LYNCH & CO.” The last time your columnist checked, however, the auction had attracted no bidders. Still–nothing ventured, nothing gained.

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