Topic: Bank of America Corporation
Top galleries, list articles, quizzes
-
10 richest members of Congress
The 10 wealthiest members of Congress in 2012 include Senate and House members hailing from all over the US. Can you guess which political party had the most lawmakers on the list – and who grabbed the top spot?
-
Five ways big banks' Libor scandal affects you
London, this year's host of the Olympics, is also home to a bank scandal that threatens to rock the financial world as much as the Games influence the world of sports. Here's why: Libor (London Interbank Offered Rate) is a global benchmark for interest rates that reaches deep into the international financial system. Allegations that banks rigged those rates means that everyone from mortgage-holders and indebted students to cities and mutual funds may have had their interest rates unnaturally altered. Already tainted by other scandals, banks are under investigation because of charges that they profited illegally from their rate-rigging scheme. The mess further taints big banks and puts more strain on the credibility of the global financial system. Here are five ways the Libor scandal could affect you:
-
Companies we love in 8 industries we hate
A trip to the bank doesn't have to be a nightmare. Here are the customer service winners in eight industries that customers hate, from airlines to cable companies.
-
One World Trade Center and the four other tallest buildings in America
The new One World Trade Center tower is taking over as New York City’s tallest from the Empire State Building. But it’s not the country’s tallest. Here are the five tallest buildings in the country.
-
10 best cities to buy short sale homes
Foreclosures are tough: Homeowners lose their houses and ruin their credit, while banks get stuck with vacant, deteriorating real estate for months before selling it at a considerable loss. Increasingly, banks are finding another way: the short sale. Instead of waiting to foreclose, a bank preemptively sells a home at a deep discount and closes out the underwater mortgage, even if the house sells for less than the value of the mortgage. The result: Homeowners shed their mortgage debt, and banks unload properties more quickly and inexpensively. Here are the Top 10 metropolitan areas with the biggest average discounts on these pre-foreclosure homes, according to online foreclosure marketplace RealtyTrac. Can you guess which city is No. 1?
All Content
-
How does Conan O'Brien's severance stack up on Wall Street?
NBC's $40 million severance to Conan O'Brien is worth 15 lifetimes of work for the average American. But it's no lollapalooza on Wall Street.
-
Bailout aftermath: Obama proposes fee on big banks
To recoup taxpayer money used in the bailout of financial firms, Obama on Thursday outlined a fee that big banks would have to pay for 10 years or more.
-
Can Americans save money – and the economy?
US consumers want to reduce their debt, but the economy's recovery depends on their confident spending.
-
David Tepper and Co.: Which traders profited most from the downturn?
David Tepper reaped $7 billion in profit for his firm by scooping up bank stocks at their nadir. How does that stack up with other lucrative moves?
-
Why are big banks like Citigroup rushing to pay back TARP funds?
Citigroup announced it is paying back federal TARP funds, joining the likes of Bank of America, Goldman Sachs and JP Morgan. Why are they in such a hurry?
-
What's behind mixed signals from Obama and Geithner on TARP?
President Obama and Treasury Secretary Timothy Geithner appeared to contradict each other this week on whether the TARP program would be extended. The mixed signals reflect the political unpopularity of the bank bailouts.
-
UK bonus tax proposal: Three reasons it won't happen in US
-
Using TARP funds for job creation: creative or reckless?
As banks pay back TARP funds, President Obama and Democrats consider putting that money toward job creation. Conservatives say that will just add to the deficit.
-
Bernanke speech: financial stability is returning
The actions of the Federal Reserve and other policymakers have helped 'pull the economy back from the brink,' according to the Bernanke speech. One sign: The cost of last year’s bailouts is coming in lower than some forecasters had predicted.
-
Senators grill Fed’s Ben Bernanke over bank bailouts
At confirmation hearings for Fed Chairman Ben Bernanke Thursday, some senators decried bailouts of 'too big to fail' firms. Others said the economy would be in worse shape without the Fed’s actions.
-
Supreme Court to decide: What kind of innovations get a patent?
The Supreme Court on Monday takes up this fundamental question in patent law. The answer holds billion-dollar implications for the US economy.
-
Executive pay: How much say should Obama 'czar' have?
High executive pay and bonuses are unseemly after taxpayer bailouts, many Democrats charge. But GOP lawmakers worry about federal 'pay czar' meddling in the workings of capitalism.
-
Wall Street pay cuts ordered by Treasury
The Treasury Department is ordering pay cuts for top executives at the seven big companies that have yet to pay back government bailout cash. The US public has balked as such firms have handed out huge bonuses.
-
The Monitor's View: Pay cuts at bailout companies: a real-life test case
The move makes for good politics, but is it good business?
-
Bank of America's Ken Lewis takes pay cut, but no one follows
Although CEO Ken Lewis agrees to a $0 pay package, don't expect a wholesale revolution in executive compensation on Wall Street.
-
Money Daily Brief: US service sector expands
Major Asian stock indexes fell on concerns about weak US labor markets.
-
Five questions for Ben Bernanke
The Senate is likely to confirm him, but not without asking things like 'How soon will you raise interest rates?'
-
Who needs bank branches? Deposit checks via iPhone.
-
Banks slow to modify mortgages
The Bank of America modified just 4 percent of eligible home loans, says a new government report aimed at prodding banks to do more to prevent defaults.
-
Who's No. 1 in aiding mortgageholders? Think small.
-
For banks, some good news (finally)
In earnings reports released this week and last, the four major US banks are showing signs of improvement.
-
Paulson to defend bailout response to crisis
The sole witness at a House hearing Thursday, the former Treasury Secretary will also defend his role in pushing the merger of Bank of America and Wall Street giant Merrill Lynch.
-
Lawmakers chide Paulson for 'unchecked government power'
In Thursday's hearing, they pointed to the Bank of America-Merrill Lynch merger as evidence of a system that had spun out of control.
-
With Congress looming, lenders cut sweet deals
The Treasury Department asked Capitol Hill Tuesday to overhaul regulation of the credit industry, saying the current system is 'designed to fail.'
-
Is US poised to bail out another financial institution?
CIT is one of America’s largest lenders to small businesses. It also made many subprime mortgage loans and is now seeking US assistance.
Previous
Become part of the Monitor community