reuters.com - 2/27/2009
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NEW YORK (Reuters) - New York's top legal officer on Thursday demanded Bank of America Corp Chief Executive Kenneth Lewis provide names of Merrill Lynch executives who received 2008 bonuses, and how much they got, before the bank's takeover of the firm in January. Executive compensation is a ...
baselinescenario.com - 2/26/2009
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baselinescenario.com —
There is nothing inherently wrong with convertible preferred
stock. In Silicon Valley, for example, venture capitalists almost...
always invest by buying convertible preferred. The idea is that in the case of a bad outcome, the VCs are protected, because their shares have priority over the common ...
(more)
No, Wait! You Got It Backwards!
bloomberg.com - 2/22/2009
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bloomberg.com —
Feb. 21 (Bloomberg) -- Bank of America Corp.
Chief Executive Officer Kenneth Lewis , under siege from...
investors on concern the company may be taken over by the U.S. government, said he doesn’t need any more federal assistance and can “make it through ...
(more)
Bank of America’s Lewis Says He Can Go It Alone as Stock ...
247wallst.com - 3/5/2009
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247wallst.com —
Andrew Cuomo spends most of his time running
for the governor’s job in New York State. In...
his spare time he acts as Attorney General and will investigate and prosecute anything he can get his hands on. People who made a lot of money on Wall St. are a perfect target. It plays to the ...
(more)
Leaving Merrill’s Banker Alone To Enjoy Their Money
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BofA subpoenaed for bonus list
FT Alphaville —
The New York Attorney General’s office has subpoenaed Bank of America to submit a list of employees who got bonuses and the amounts they received, reports Reuters. The attorney general is “severely disappointed” in BofA’s decision not to turn over information on bonuses and has served the bank with a subpoena to obtain the information, said a special assistant to attorney general Andrew Cuomo.
Links 2/27/09
naked capitalism —
... few words from a reader on TALF mechanics Ed Harrison Lonely Geithner Felix Salmon Moody's predicts default rate will exceed peaks hit in Great Depression Telegraph. The title strikes me as misleading, since it compares overall defaults in the Depression with projected junk bond defaults. However, the authorities back then did not create an armada of fancy facilities to prop up dud borrowers. Who knows where we'd be in their absence. Top N.Y. legal officer demands bonus list from BofA CEO Reuters Antidote du jour (hat tip reader ...
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Cuomo May Ask Return of $4 Billion in Merrill Bonuses (Update1)
bloomberg.com 1/30/2009 — Jan. 30 (Bloomberg) -- Andrew Cuomo , New York’s attorney general, may demand the return of $4 billion in bonuses paid by Merrill Lynch & Co. just before it was acquired by Bank of America Corp. , a person familiar with the matter said. Cuomo also ...
Andrew Lo on Hedge Fund Regulation and Risk
richard-wilson.blogspot.com 3/3/2009 — Andrew Lo Interview Andrew Lo on Hedge Fund Regulation I recently came across a short interview with Andrew Lo on the hedge fund industry and what additional regulations should be put in place here within the United States. Here is the article excerpt from this interview: _____________ Let's ...
Another Bailout for BofA
calculatedriskblog.com 1/15/2009 — Form the WSJ: U.S. Negotiating More Aid for Bank of America The U.S. government is close to committing billions in additional aid to Bank of America Corp. as the nation's largest bank by assets tries to digest its Jan. 1 acquisition of Merrill Lynch ...
Bank of America Threatens Fed, Demands More Cash From Taxpayers
globaleconomicanalysis.blogspot.com 1/16/2009 — Bank of America fell a whopping 18.43% today, hitting a new 52 week intraday low of $7.35 on concerns it is not going to easily be able to digest the merger with Merrill Lynch. I suggest Bank of America has easily bitten off more than it can chew and ...
Bank of America Goes Public on Back Door Politics of Merill Deal
economicdiscourse.com 2/5/2009 — Bank of America broke the critical $5/per share level today on renewed concerns about their financial stability. The markets are fearing the worst, and as the ship begins to sink, new information on the politics of the merger are beginning to bubble up. Bank of America is essentially declaring ...
Ken Lewis, the Master Government Negotiator
dealbook.blogs.nytimes.com 5/15/2009 — Bank of America's Kenneth Lewis has made some questionable private deals, but he is a master at negotiating with the government and leveraging a weak hand to cover his missteps, The Deal Professor says.
WALL STREET BIGS WON'T HELP CUOMO BLOW OUT CANDLE$ - New York Post
nypost.com 11/19/2008 — Posted: 3:41 am November 19, 2008 Few Wall Streeters are expected to show up for New York Attorney General Andrew Cuomo's lavish birthday and fund-raising bash in two weeks - but it's not because they weren't invited. Several Wall Street bigwigs ...
No Sleep for Citi —
The Big Money
The prospect of Uncle Sam nationalizing the country's most vulnerable banks is once again the big concern today as The Wall Street Journal reveals Citigroup is seeking more federal backing to cushion against the blow of further mortgage-related ...
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