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16 Apr 2010 10:55

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Biz: Bank of America bounces back into the win column

  • $3.2
    billion     the company’s profit in the current quarter, helped by a good quarter for controversial acquisition Merrill Lynch
  • $2.2
    billion     the company’s loss throughout all of 2009 – the credit crisis and Merrill Lynch buyout were blamed source
Posted by Ernie Smith • 0 Comments • Permalink

14 May 2009 08:01

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Biz, U.S.: Former treasury secretary Paulson strong-armed the banks

  • If a capital infusion is not appealing, you should be aware that your regulator will require it in any circumstance. We don’t believe it is tenable to opt out because doing so would leave you vulnerable and exposed.
  • Former Treasury Secretary Henry Paulson • In a one-page memo of talking points prepared for a meeting last October, when he essentially forced the hand of nine banks the Bush administration felt were “central to any solution” to the credit crisis. The situation already sucked enough; did they really need to be strongarmed? • source
Posted by Ernie Smith • 0 Comments • Permalink
 
 
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