Merrill Lynch Stories
Bernanke denies asking B of A’s Lewis to stay mum
Federal Reserve Chairman Ben Bernanke testified at the Joint Economic Committee on Tuesday that he never asked Kenneth Lewis, chief executive officer of Bank of America Corp., to remain silent about the Merrill Lynch & Co. losses, before its January 1 acquisition.
AIG nears Japan building sale for $1 billion: source
American International Group Inc is near a deal to sell its Japanese headquarters for about $1 billion in what would be one of its largest asset sales since a September rescue, a source familiar with the matter said on Monday.
MBIA sues Merrill over CDO losses
MBIA Inc , the world's largest bond insurer, sued Merrill Lynch & Co on Thursday seeking damages for losses from complex debt securities it insured for the bank.
Tyco International results beat estimates
Industrial conglomerate Tyco International Ltd posted a net $2.57 billion quarterly net loss as it wrote down assets in light of the weak economy, but earnings before special items beat Wall Street expectations.
BofA's Lewis ousted as board chairman, stays as CEO
Bank of America Corp shareholders voted to oust embattled Chief Executive Kenneth Lewis as chairman of the board on Wednesday in what could be a precursor to his eventual replacement as CEO as well.
BofA CEO ousted as board chairman, stays as CEO
Bank of America Corp shareholders voted to oust Chief Executive Kenneth Lewis as chairman of the board on Wednesday after months of mounting criticism of his stewardship of the largest U.S. bank.
BofA CEO seems to survive push for board ouster
Bank of America Corp Chief Executive Kenneth Lewis appeared to survive a push by angry shareholders to push him off the bank's board -- though they may strip him of his job as chairman of the largest U.S. bank.
BofA CEO defends decisions at annual meeting
Bank of America Corp CEO Kenneth Lewis, facing a vote that could strip him of the chairmanship of the largest U.S. bank, defended his management decisions before thousands of shareholders at the bank's annual meeting on Wednesday.
BofA CEO could lose chairmanship at meeting
Bank of America Corp's embattled CEO, Kenneth Lewis, may have to give up the post of chairman as shareholders hold a referendum on his eight-year tenure as head of the largest U.S. bank.
Bank of America CEO faces test at annual meeting
Bank of America Corp's embattled CEO, Kenneth Lewis, may have to give up the post of chairman as shareholders hold a referendum on his eight-year tenure as head of the largest U.S. bank.
CalPERS will vote against Ken Lewis as BofA Chairman
The California Public Employees’ Retirement System, which is the largest U.S. public pension fund, announced on Tuesday that it will vote against the re-election of the entire Bank of America board of Directors, including Chief Executive Officer and Chairman Ken Lewis.
E*Trade pressured to raise capital; reports loss
E*Trade Financial Corp, a U.S. retail brokerage, said it is facing regulatory pressure to boost capital as it posted its seventh straight quarterly loss, and its shares fell 25 percent in after-hours trade.
Epic Insights Expanded 4-28-2009
By being long of GS and short an equal amount of MS, you eliminate the broad market and focus on the difference between the firms. Following this strategy in my weekly newsletter EPIC Insights, I recommend a long position in GS and a short position in MS as this week’s fundamental trade.
Thain says BofA Merrill statements not true: report
Bank of America Corp made inaccurate statements about its role in the bonuses and losses at Merrill Lynch & Co, former Merrill Lynch & Co Chief Executive John Thain told the Wall Street Journal in an interview.
Ford shares rise as Q1 loss smaller than expected
Ford Motor Co posted a smaller-than-expected first-quarter loss and said it was on track to at least break even in 2011 and did not expect to seek U.S. government loans, sending its shares up as much as 20 percent.
U.S. pressured BofA to complete Merrill deal: Cuomo
Bank of America Corp CEO Kenneth Lewis was pressured by senior federal officials Henry Paulson and Ben Bernanke to accept a merger with troubled Merrill Lynch & Co or lose his job, New York Attorney General Andrew Cuomo said on Thursday.
Fed: No one advised BOA’s Lewis on disclosure
Bank of America chief was not advised on disclosure issues by anyone at the Federal Reserve, Fed spokeswoman, Michelle Smith said on Thursday.
Fed says didn't advise BofA's Lewis on disclosure
No one at the Federal Reserve advised Bank of America chief Kenneth Lewis on any disclosure issues, Fed spokeswoman Michelle Smith said on Thursday.
U.S. pressured B of A to complete Merrill deal: Cuomo
Bank of America Corp CEO Kenneth Lewis was pressured by senior federal officials Henry Paulson and Ben Bernanke to accept a merger with troubled Merrill Lynch & Co or lose his job, New York Attorney General Andrew Cuomo said on Thursday.
Calif. AG sues Wells Fargo for $1.5 billion
California Attorney General Edmund Brown on Thursday sued Wells Fargo for $1.5 billion over alleged false statements made to investors about the liquidity of auction-rate securities, court documents showed.
Cuomo questions TARP, pressure on B of A's Lewis
An investigation of Bank of America Corp revealed facts that raise questions about the transparency of the U.S. government program to help banks in the financial crisis, New York's top legal officer said in a letter made public on Thursday.
Lewis testified that U.S. urged silence on Merrill deal: report
Bank of America Corp CEO Kenneth Lewis testified under oath that Federal Reserve Chairman Ben Bernanke and then-Treasury Secretary Henry Paulson pressured him to keep quiet about losses at Merrill Lynch & Co, which the bank was buying, the Wall Street Journal reported.
U.S. jury finds brokers guilty in squawk box trial
Three former brokers and three former day traders conspired to misuse company squawk boxes for insider trading, a U.S. jury ruled on Wednesday in the second trial in the case.
U.S. jury finds brokers guilty in 2nd squawk box trial
Three former brokers and three former day traders conspired to misuse company squawk boxes for insider trading, a U.S. jury ruled on Wednesday in the second trial in the case.
BofA CEO should be kicked off board: Connecticut treasurer
The Connecticut state treasurer told beleaguered Bank of America Corp Chief Executive Kenneth Lewis on Tuesday she will be voting against his re-election at the bank's upcoming shareholder meeting.
Investors not convinced by Bank of America ‘earnings’
Concerns continue to rise over the health of the nation’s largest banks leaving investors wary and reluctant to reach into their pockets despite the reported gains.
Bank of America net up, shares sink on bad loans
A surge of troubled loans overshadowed better-than-expected earnings at Bank of America Corp, and the largest U.S. bank said it expects the credit situation to worsen, driving its shares down 24.3 percent.
Bank of America profit rises, credit quality sours
A surge in troubled loans overshadowed better-than-expected earnings at Bank of America Corp, and the largest U.S. bank expects the credit situation to worsen, driving its shares down 17 percent.
Bank of America profit more than doubles
Bank of America Corp said on Monday first-quarter profit more than doubled, as higher revenue from the purchase of Merrill Lynch & Co and a one-time gain from selling shares of a Chinese bank offset a surge in credit losses.
Pressure mounts on BofA CEO before annual meeting
Two influential investor advisory groups sharply rebuked Bank of America Corp Chief Executive Kenneth Lewis over his handling of the buyout of ailing Merrill Lynch & Co, recommending he be thrown off the bank's board at its upcoming annual meeting.