Reuters: A bear market could kill the extraordinary rally in corporate bonds. Reuters: Treasury will announce three more funds are buying toxic assets. Reuters: Bank of America (BAC) will select an emergency…
Updates throughout the day. Update: Jeff Bewkes, CEO of Time-Warner (TWX) who says “Time, Inc. is not for sale.” (Atlantic First Draft of American History Conference) Update: John Paulson and Angelo Gordon may…
When Ken Lewis finally leaves Bank of America (BAC) he will get a $125 million goodbye from the financial firm, unless the federal government’s pay czar decides to challenge the package. Most…
Douglas A. McIntyre Reuters: The retirement package for Ken Lewis of Bank of America (BAC) may be as high as $125 million. Reuters: US car sales plunged in September with Ford (F) up and GM…
Updated throughout the day. Update: RADVision (RVSN) is trading down over 33% on rumors that the Cisco (CSCO) buyout of Tandberg will cost it nearly 40% of its revenue. (Morgan Keegan) Update: Friday’s…
Reuters: Ken Lewis will step down as CEO of Bank of America (BAC) Reuters: Cisco (CSCO) bought Tandbeg for $3 billion. Reuters: The IMF raised forecasts for US GDP but warned on…
It was a surprise when Ken Lewis, the CEO of Bank of America (BAC), finally resigned. Neither shame nor pressure could move him out of his corner office. He was replaced as…
CNBC is reporting that Bank of America (BAC) CEO Ken Lewis will step down by the end of the year. There have been a number of reports in the past that he…
Douglas A. McIntyre The IMF issued its Global Financial System report and one of the most critical points of its analysis is that banks face another $1.5 trillion in writedowns. That is on top of…
Reuters: China celebrated 60 years of communist rule as a capitalist economy. Reuters: The IMF cut global debt write-offs to $3.4 trillion. Reuters: CIT (CIT) is close to a deal to give…
Reuters: China may hold the key to a sanctions program against Iran. Reuters: The head of the AIG (AIG) unit that caused most of the firm’s losses is back in US. Reuters: The…
Well, back in the history of American finance, the public and some members of Congress were lead to believe that Bank of America (BAC) bought Merrill Lynch as a way to save…
Douglas A. McIntyre Stress tests of the balance sheets of Europe’s twenty-two largest banks shows that they have credit losses that will reach a total of $587 billion between this year and next. The analysis…
The stock market did not fall apart at the seams, but it did very poorly on news that existing home sales dropped last month by 2.7% to a rate of 5.1 million.…
Douglas A. McIntyre Short sellers posted a mixed record on big banks. Short interest in Citigroup (C) plunged by 73% to 177.5 million shares. The short interest in Bank of America (BAC) was down 18% to…