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more about #bankofamerica more comments → Unsolicited Advice: Also, are you being willfully fallacious here: You see how that works, right? The only way to keep people is to pay them millions of dollars. If you ... more » Lafarge: "skimming millions in taxpayer dollars"? you guys crack me up with how much you have simplified this issue, typical liberals. Have fun watching your c... more » BettyCrocker: AIG was a shitshow since 2005 / 2006, when Maury "Hank" Greenberg and sons got caught with their leathery hands in the cookie jar. None of this shoul... more » Unsolicited Advice: Eh, too angry. Summary of massive screed deleted: there are unintended consequence to this populism. Pay restraints have to get everybody, not just ... more » Miss Anita Manbadly: I'm just looking forward to Old Crazylegs Ken being unemployed, since he's the reason I'm currently out of a job. Maybe we'll meet in line? more » son of spam: And in one last flourish of bad management, Lame Duck Ken keeps the bank in limbo for a quarter, and with no heir in sight. (Maybe Moynihan.) more » BlinkyMcChuck: Why is it an assault exactly? What do we call what they did to the US? Financial genocide? more » BettyCrocker: @ Andrew - a wee correction, if I may: the WaPo story says it was 15 billion in losses and 3.6 billion in effing bonuses. That's a lot bigger than... more » bluebears: I'm far more disgusted with the SEC then Bank of America. What do those jackasses do all day? more » morninggloria: I was under the impression that the lawsuit was over the fact that Bank of America execs failed to disclose information on Merrill to the shareholders... more » BettyCrocker: "I’m having a difficult time understanding who was harmed here," said Richard X. Bove, a banking analyst with Rochdale Securities. "Why is this comp... more » skippywasserman: But if bankers cannot get off lightly for their mistakes how will they be completely isolated from negative consequences of their decisions? This is ... more » stuporman: How's this for fun? While recently on vaca in a place somewhat off the grid (as in, no interwebs) Chase bank took the opportunity to suddenly cut the... more » Clare: Even if you can afford to pay your credit card bill, Citigroup and Bank of American are both aggressively raising interest rates and cutting back on c... more » Unsolicited Advice: Of course, TARP lending is in the form of preferred equity stakes, which pay dividends directly to the Treasury. Direct capital injections carried so... more » -
#banksters
AIG Doesn't Know How Many Millions of Dollars It's Paying Its Execs to Fail
When Ken Feinberg, the guy Obama charged with reining in bonuses at bailed-out firms, asked AIG who its top-paid executives were, they couldn't answer. That place is a black hole of money. More » -
#moneymatters
Ken Lewis Can Run, But He Can't Hide
Ken Lewis was once a whiz banker who helped build Bank of America into a titan. Then he organized that Merrill Lynch deal, things went south and now he's resigning. But his woes continue. More » -
#lawsuits
SEC's Settlement No Good, Says Judge
A judge rejected a $33m settlement that would have ended the SEC's lawsuit against Bank of America, which is accused of not using enough judgment in giving executive bonuses. The settlement, said the judge, was unfair and inadequate. Shocker. [NYT] -
#banksters
Another Day, Another Bank Getting Rich Off Your Money
Bank of America posted a $3.2 billion profit last quarter, and Citigroup earned $4.3 billion. The friend you lent $50 last week so he could afford groceries is showing you his new iPhone. Punch him in the face. More » -
#momoneymoproblems
Kiss The Ring: Bank Of America Takes Mercy On Their Pitiful, Ant-Like, Broke Customers
The seemingly-populist, very evil Bank of America is a hive of rat bastards, and anyone that's ever done any kind of business with them will understand this sentiment. But they're now taking mercy on their sad, recession-hit customers. More » -
#therich
Mouthy Internet Mogul Halsey Minor Might Be Broke
A decade ago, Fortune pegged CNET founder Halsey Minor's net worth at $354 million. Today he's fending off lawsuits seeking $60 million. Has he run out of money? More » -
#signofthetimes
Desperate Bank of America Employee Ready to Jump
"Met: Are you hiring?????" That's the question a Bank of America worker pasted on his office window in a midtown-Manhattan skyscraper. The giant, troubled bank's building is next to MetLife, a more solvent insurance firm. -
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#excuses
John Thain and the Art of the Modern Non-Apology Apology
It was a different time. Blame the old guy. I told you everything. Is there an excuse former Merrill Lynch CEO John Thain hasn't trotted out to explain why his fall is not his fault? More » -
#johnthain
John Thain Quits Bank of America, Leaving $87,000 Rug Behind
After details of a spending spree became public, Merrill Lynch CEO John Thain has resigned from his post at Bank of America, which bought his firm in the midst of the Panic of '08. More » -
#johnthain
How an $87,000 Rug Could Take Down Merrill's Boss
They called him "Superthain." John Thain, Merrill Lynch's Clark Kent-lookalike CEO, had the public image of a straight-shooting, clean-living superhero CEO. Billions of dollars in losses haven't stained that, but an $87,000 rug could. More » -
#yearinreview
The Worst Moments of the Panic of '08
Everyone wants a neat explanation of the panic that destroyed the economy and put the government in charge of Wall Street. Good luck with that! Here's a look back on the year money forgot. More » -
#thepanicof08
Lehman Boss's Weekend from Hell
On the September weekend when Wall Street went poof, a friendless Dick Fuld, CEO of Lehman Brothers, the 158-year-old securities firm, couldn't get his phone calls returned. -
#classwar
The $37 Million Park Ave. Apartment Your Bailout Bought
Where is the government's bank-bailout money going? In part to pay for Wall Street banker Peter Kraus's $37 million Park Avenue spread.
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#thepanicof08
Banker of the Year Opposes Lending
Oh, look, it's the 2008 Banker of the Year and recipient of $25 billion in government aid, Bank of America CEO Ken Lewis! What wisdom did he bestow on the sad Detroit Economic Club? More »
