12:02pm ET
Banking, finance, and taxes
IMF Confirms What Bank Stocks Already Show
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.
Companies
/Financial Services
Bank Of America Corp
$56.70
▲ $0.67 (+1.20%) today
Markets closed · 6:25pm ET
BAC Coverage
Page 1455:11am ET
Investing
Despite Poor Governance In The Auto And Finance Industies, Boards Refuse To Act (AAPL)(BAC)(C)(F)(GM)(DOW)(ROH)
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…
4:06am ET
Media
Media Digest 2/5/2009 Reuters, WSJ, NYTimes, FT, Bloomberg
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…
3:53pm ET
Investing
The 52-Week Low Club (BAC)(GE)(TXT)(FITB)(HBAN)
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…
1:07pm ET
Jobs
A Danger In Pay Caps: Business Failure (GS, JPM, MS, C, AIG, BAC)
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…
6:27am ET
Investing
Creating A Single National Stock Brokerage Company (BAC)(UBS)(MS)(C)
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…
5:43am ET
Banking, finance, and taxes
Destroying Bank Of America (BAC) While Saving It
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 4:02am ET
Media
Media Digest 2/3/2009 Reuters, WSJ, NYTimes, FT, Bloomberg
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…
8:36am ET
Banking, finance, and taxes
The Government’s Insane Bailout Of AIG (AIG) Continues (BAC)(C)
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…
2:13pm ET
Investing
Bank Of America (BAC) Defers Some Bonuses Until 2010
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 8:42am ET
Banking, finance, and taxes
Huge Loss At Wells Fargo (WFC): Blame Wachovia, But Government Rescue Plan Drives Shares Up
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…
6:26am ET
Banking, finance, and taxes
A New Attempt To Build A “Bad Bank”
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…
3:58am ET
Media
Media Digest 1/28/2009 Reuters, WSJ, NYTimes, FT, Bloomberg
According to Reuters, the confidence of CEOs at Davos is low as the recession and credit crisis deepen. Reuters reports that Yahoo! (YHOO) slightly beat earnings but posted a weak forecast. Reuters…
8:26pm ET
Investing
Shorts Tear Into Tech With a Vengeance (CSCO)(DELL)(NVDA)(MSFT)(ADBE)(ORCL)(QCOM)(BRCM)(NOK)(HPQ)(TXN)(EMC)(JPM)(C)(BAC)(WFC)(GM)(F)(M)(JWN)(HD)(LTD)(WAG)
Short sellers placed large bets against the stock of tech companies for the period ending on January 15, taking a series of positions to gamble that firms like Microsoft (MSFT) and Cisco…
5:48am ET
Investing
The Death Of Dividends, More Money Out Of Consumer Pockets
Companies keep cutting dividends. Some are pressed for cash because of operating losses. Others are being constrained by higher debt service. Banks need to preserve capital. The problem is becoming big enough…