According to Reuters, Democrats say that the Senate will pass the stimulus bill today. Reuters reports that Moody’s cut Toyota’s (TM) rating for the first time in 10 years. Reuters writes that…
Bank of America Corporation (NYSE: BAC) was already trading as though the options traders were placing a bet today “against nationalization” and now we are getting more news from the company. SEC…
Douglas A. McIntyre Bank of America Corporation (NYSE: BAC) has been the worst performer this year in the financial sector, or at least of all the large money center banks. The reasons are more on…
Douglas A. McIntyre Bank of America (BAC) hit another 52-week low today at $3.77. Wells Fargo (WFC) got close. The IMF said that that the banking crisis is far from over.
Much of the crisis in the banking industry has been blamed on the inaction of the boards of directors at companies including Bank of America (BAC) and Citigroup (C). Some of Citi’s…
According to Reuters, Wall St. workers face a bleak future. Reuters reports that the Senate has agreed to a soft "buy America plan." Reuters reports that the government needs an investment plan…
Bank of America (BAC) Falls to $4.72 on concerns that government might take over firm. Down from 52-week high of $43.81. GE (GE) Drops to $11.19 on concerns about recession and the…
Pendulums often swing too far in either direction. It has been shown that complete deregulation or total self-regulation leads to "Big Business Gone Wild." And now the pendulum in regulation over executive…
When Bank of America (BAC) bought Merrill Lynch, one huge retail brokerage team was married with a smaller one. Morgan Stanley (MS) will probably take over the Smith Barney unit of Citigroup…
While the battle between Bank of America (BAC) CEO Ken Lewis and former Merrill Lynch CEO John Thain goes on over who knew about large bonuses and large losses and when they…
Douglas A. McIntyre According to Reuters, Bank of America (BAC) and Merrill Lynch did agree on a bonus package for employees before the merger. There had been questions about the approval. Reuters reports that January…
The federal government has put $150 billion into rescuing AIG (AIG), which was once the most profitable insurance company in the world. With financial relationships linking it to banks and brokerages all…
Bank of America (BAC) is forcing a number of employees in its investment banking operation to defer their bonuses to 2010 and beyond. After all the trouble due to Merrill Lynch paying…
Douglas A. McIntyre The shares in Wells Fargo (WFC) are up 22% to $19.76. The bank’s modest results are not the cause. There is optimism that the federal government will create a "bad bank" to…
Creating a "bad bank" is on the wish list of an extraordinarily large number of regulators and members of Congress. It is a sort of miracle cure to the problems in the…
