1.   Maybe merchant banking is the ultimate microcosm for life after all.

2.   Most of the fall came as a result of the release of provisions in the merchant banking and securities division.

3.   Analysts said that merchant banking had made spectacular profits for some Wall Street firms, but they cautioned that such earnings tended to be viewed as irregular.

4.   Analysts considered Fortis the safest buyer because it has very little activities yet in merchant banking.

5.   And with strong merchant banking, junk-bond trading and securities research, the company has been particularly profitable recently.

6.   As the business grew into merchant banking, branch offices were opened in New York, London and Paris.

7.   Before getting into politics, Huffington worked in the family business and in merchant banking.

8.   Big gains from merchant banking and the sale of a real estate investment boosted the results.

9.   -- Permit bank holding companies to engage in new financial activities, such as selling securities, insurance and merchant banking.