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Cuomo sues Lewis of Bank of America… Did Lewis act unethically or is Cuomo grandstanding?
7 hours ago ago from Motivational Speaker - Chuck Gallagher Business Ethics and Choices Expert
Reported on in Bloomberg (see the full article here ). The former Chief Executive Officer of Bank of America, Kenneth Lewis was sued by New York Attorney General Andrew Cuomo for supposedly defrauding investors and the government when buying Merrill Lynch & Co. Recently, the bank agreed to pay $150 million to settle a related lawsuit by U.S. regulators which is being considered by U.S. District Court Judge Jed Rakoff. Last year, Rakoff ...
Related contentMerrill Lynch on Your Résumé? No Problem for Wall Street
11 hours ago ago from Rich Guys Club
The bull is breathing all over Wall Street. A little more than a year after Merrill Lynch was officially swallowed by Bank of America, many of the executives of the once storied Wall Street firm — which used the animal that is synonymous with rising stock markets as its mascot — have landed in leadership positions around the financial world. On Monday, John Thain, who was Merrill's chief executive when the firm sold to BofA, got the ...
Related contentWhat’s good for Wall Street is bad for America
16 hours ago ago from Unreported
(Image from Wikipedia) To watch the Dow jockies on the teevee leaves one with the impression that Americans collectively win something when the industrial average rises above 10,000. But Americans don't win anything. Most of them don't even really understand what the 10,000 mark means, but they have learned to equate Wall Street winning with a booming American economy. Do you earn a bonus when the Dow breaks 10,000? Does your job ...
Related contentGhana has not YET blocked Exxon-Kosmos deal
1 hour, 42 minutes ago ago from Reporting Oil and Gas
ACCRA (Reuters) Ghana has not blocked a planned $4 billion oilfield stake sale to Exxon Mobil by Kosmos Energy but still threatens to do so if the parties do not abandon the deal, the West African country's energy minister said Tuesday. The Wall Street Journal reported on Tuesday the government had blocked the deal Filed under: 1
Related contentBank of America Merrill Lynch Announces Global Capital Markets Leadership
17 hours ago ago from Press Release Hub
Borthwick and Carnoy Named Co-Heads NEW YORK , February 9 - Bank of America Merrill Lynch today announced that Alastair Borthwick and Lisa Carnoy have been named co-heads of the company s Global Capital Markets business. This move follows the recent announcement that Bruce Thompson , former head of Global Capital Markets, has been appointed chief risk officer for Bank of America. (Logo: ...
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Merrill Lynch On Your Resume? No Problem for Wall Street
20 hours ago ago from TIME.com - Business
SEARCH TIME.COM Full Archive Covers Videos Merrill Lynch on Your R ? No Problem for Wall Street By Stephen Gandel Tuesday, Feb. 09, 2010 John Thain, former CEO of Merrill Lynch Jonathan Fickies / Bloomberg / Getty Share The bull is breathing all over Wall Street. A little more than a year after Merrill Lynch was officially swallowed by Bank of ...
Related contentBofA spent $1.18M lobbying government in 4Q
15 hours ago ago from U.S. News
BofA spent $1.18M lobbying government in 4Q CHARLOTTE, N.C. (AP) -- Bank of America Corp., the nation's largest lender, spent $1.18 million in the fourth quarter to lobby the federal government on issues such as executive compensation, credit cards and mortgage lending practices, according to a recent disclosure report. That's up from the $820,000 it spent in the 2008 fourth quarter at the height of the financial crisis, and the $930,000 it ...
Related contentS&P cuts outlook on Citigroup, Bank of America
9 hours ago ago from U.S. News
S&P cuts outlook on Citigroup, Bank of America NEW YORK (AP) -- Standard & Poor's Ratings Services on Tuesday cut its outlook on Citigroup Inc. and Bank of America Corp. to "negative" from "stable," saying bond holders could take a hit if the government steps in again to support banks. The negative outlook signals the possibility of a future downgrade. However, S&P affirmed the banks' investment-grade counterparty credit and debt ratings. ...
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