Word: crisises
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On Monday, the bank agreed to pay $33 million to settle Securities and Exchange Commission charges that Lewis and other executives misled the bank's investors prior to its $50 billion purchase last year of brokerage firm Merrill Lynch. In a separate development on Monday, the bank also announced that...
Lewis has said that he would like to stay on as CEO of Bank of America until his firm is able to repay the $45 billion it received in government assistance during the financial crisis. Some money managers say that could take years - and it looks increasingly unlikely that Lewis...
"It's very rare when you split the chairman and CEO position for the top executive to stay in place," says Paul Miller, who follows Bank of America at FBR Capital Markets. The executive's performance during the financial crisis has come under increasing scrutiny in the past few months...
The challenge for China is to keep wasteful spending at tolerable levels, to eventually exit the stimulus program without stalling economic recovery, and to tighten monetary policy sooner rather than later to avert runaway asset bubbles - but without killing the markets. It's a difficult balancing act, as last week...
Just as Wall Street is the embodiment of America's financial industry, "the bazaar" stands for the mercantile and commercial interests that form a core constituency in Iran. Both are physical and metaphorical locations of power. Indeed, the bazaar, the center of Iranian economic life stretching back centuries, has been...