Topic: Bank of America Corporation
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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?
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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:
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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.
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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.
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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
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Japanese firms set spending record in buying up foreign assets
Japanese corporations will have spent more on foreign companies than they did at the height of the '80s. But few heads are turning, showing how much has changed in perceptions of Japan.
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Stocks move higher as budget talks progress
Stocks rose Monday as signs of fiscal cliff progress in Washington made their way to Wall Street. Stock traders paused for a minute of silence at 9:15 a.m. EST to remember those killed in a gunman's rampage through a Connecticut elementary school.
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Cyberattacks on US banks resume, aiming to block their websites
The latest cyberattack mirrors one in early fall that targeted websites of major US banks. Security experts say the attacks appear to be the handiwork of a group tied to Hamas, which the US lists as a terrorist organization.
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China's economic recovery picks up pace, but for how long? (+video)
While the global recession took a toll, China's economy is now in a sweet spot that may hold through the first half of 2013, say some analysts. But worrisome longer-term trends are surfacing.
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Obama talks 'fiscal cliff.' Why the urgency to reach deal sooner, not later?
Speed is of the essence in dealing with the fiscal cliff, some economists warn. Delaying until late this year – or worse, 2013 – would mean a bigger hit to the US economy, and even a recession.
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Dow loses 313 in post-election sell-off
Stocks plummeted during Wall Street's first day of trading after President Obama's reelection. Stocks also spiraled downward in the days after Obama's first victory.
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Stocks rise as investors wait for a winner
Stocks climbed Tuesday as investors remained 'on pins and needles' for the results of the US presidential election. A jump in crude prices helped lift stocks in petroleum refiners.
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Opinion: How to give cooperative businesses more clout in the world economy
Against a backdrop of sluggish economic growth, rising wealth inequality, and high unemployment, cooperative businesses are telling an unexpected story of stability, growth, and value. They could do even more good if they received greater political and public support.
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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?
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The Monitor's View: Oh, the ease of blaming others in a crisis
When earthquake experts are sentenced for bad predictions and lenders accused of bad calls on mortgages, society needs a reminder that individuals are responsible for their actions.
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Stocks down as weak earnings drag market lower
Stock prices dropped Friday after the release of poor corporate earning reports from Microsoft, General Electric and McDonald's. All 10 industry groups in the S&P 500 fell, led by materials and technology stocks.
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Google's big miss highlights Wall Street's big worry (+video)
Google isn't the only company reporting disappointing revenues. So far this earnings season, most companies have exceeded profits expectations, but only 42 percent have beaten revenue forecasts.
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Stocks higher after retail sales improve
A strong gain in retail spending sent stocks upward Monday. A positive earnings report from Citigroup was responsible for a broad rise in bank stocks.
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Stocks fall in worst week since June
Stocks dropped after investors had a mixed reaction to earnings reports from JPMorgan Chase and Wells Fargo. Financial and utility stocks had the biggest declines among the 10 industries in the S&P 500.
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Saving Money
Major banks settle with homeowners. Are you entitled?If your home loan is serviced by one of the five major lenders – including Bank of America and Wells Fargo – you may be entitled to a share of one of the largest civil settlements in history.
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Clues about who's behind recent cyber attacks on US banks
A Middle Eastern hacktivist group appeared to claim responsibility for massive denial-of-service cyber attacks on websites of six US banks. Some experts now say that claim is a 'false flag' to divert attention from the real attackers.
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September manufacturing growth lifts stocks
Stocks got a boost from the latest manufacturing report, which showed growth in September. The manufacturing report came out half an hour after trading began, and sparked Monday's jump in stock prices.
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Stocks stumble towards end of solid 3Q
Stocks fell Friday in all industry groups in the S&P 500 except utilities. The biggest losses were in telecommunications and information technology stocks. But the big indices are still up 4 percent or more for three months.
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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:
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Housing prices: Agents make houses sell for a lot less. On purpose.
Housing prices are manipulated by shady real estate agents who practice 'flopping.' Instead of making homes look good to raise housing prices, tey make them look bad so banks will sell them for a loss.
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Stocks rise in anticipation of Fed meeting
Investors hope an upcoming Federal Reserve meeting will lead to a jump in stock prices. The average of 30 large company stocks has already gained 1.8 percent to start September, a month which is usually dismal for stocks.
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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.
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Federal Deposit Insurance Corporation: Bank profits up from 2011
Federal Deposit Insurance Corporation (FDIC) said Tuesday that the banking industry earned $34.5 billion in the second quarter, up from $28.5 billion in the second quarter of 2011. Banks were also less cautious about lending, though earnings growth remained 'sluggish' according to the Federal Deposit Insurance Corporation.
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The Reformed Broker
Hot new trading trend: European stocksTypically, Europe doesn't get a lot of love from Wall Street. But more and more, traders are beginning to go after quality Euro stocks.
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Robert Reich
Big bank engineer rejects big banks. Will Obama and Romney follow?Sandy Weill, who was instrumental in Wall Street banks becoming "too big to fail," has come out in favor of breaking up the big banks. Will one of the presidential candidates take up Weill's proposal?
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