Matt and Meta,I think you both have a complete misunderstanding...

Matt and Meta,

I think you both have a complete misunderstanding of the relationship of BOA, ML with CLR shares. Complete!

There is a prime brokerage agreement in place between Merrill Lynch (Mathews Capital) and Bank of America.

Bank Of America is only holding shares as collateral for Mathews Capital current and future needs.

The beneficial owner of those shares are Merrill Lynch (Mathews Capital).

BOA accepts shares from ML for cash and/or collateral but ultimately those shares belong to ML (Mathews Capital). Do you think MC is not leveraged or doesn't leverage to increase exposure?