At least 200 people — men and women, young and old, white, black, Latino, married couples and singles — met in downtown Fort Lauderdale on Saturday evening in the first Occupy Fort Lauderdale general assembly, to voice their ideas and hopes as well as frustration and anger with More…
ProPublica and NPR’s Planet Money are up with a great investigation into how banks sustained demand for risky mortgage-backed securities, even as the housing market started to falter and the number of companies available to take the long side of the trades started to dwindle. They, in essence, made More…
With the news that Citibank screens some of its clients for “objectionable content” — and applies that screening process to gay-themed businesses — many LGBT business people and Citi customers are probably wondering where their business is truly welcome. Luckily, Jeremy Quitner of The Advocate has More…
Bankrupt lender CIT Group announced today that it hired former Merrill Lynch Chairman and CEO John Thain to take over the top slot at the company and, hopefully, lead it out of bankruptcy. A bit of background on CIT Group: The company accepted $2.3 billion from the TARP More…
A House Oversight and Government Reform hearing on the controversial merger between Bank of America and Merrill Lynch has been postponed “due to additional documents recently received,” the panel announced today.
The hearing, initially to be held Thursday, has not been rescheduled.
Bush administration officials have been under fire for effectively forcing a merger last December between Bank of America and Merrill Lynch without informing BoA shareholders of the financial dire straights Merrill was in at the time.
But yesterday the Obama administration was pulled more deeply into More…
He was practically a fixture on Capitol Hill during the Wall Street bailout debate and subsequent oversight discussions. But Ken Lewis, CEO of Bank of America, is set to retire at the end of the year.
Lewis and BoA have been in hot water over their government-backed deal to More…
Just a few days after Federal Reserve Chairman Ben Bernanke testified before House lawmakers about his role in Bank of America’s controversial buyout of Merrill Lynch, House Oversight and Government Reform Chairman Edolphus Towns (D-N.Y.) announced that former Treasury Secretary Henry Paulson will be the next official to take the More…
Federal Reserve Chairman Ben Bernanke is testifying this morning before the House Oversight and Government Reform Committee about his role in catalyzing Bank of America’s controversial December buyout of Merrill Lynch.
The saga made headlines this spring when former BoA CEO Ken Lewis told New York’s attorney general that he More…
On Thursday, the House Oversight and Government Reform Committee is hosting former Bank of America CEO Ken Lewis at a hearing to explore the genesis of Bank of America’s December purchase of the flailing Merrill Lynch. In anticipation of that gathering, Committee Chairman Edolphus Towns (D-N.Y.), along with Rep. Dennis More…
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