Cuomo also sued the bank’s former chief financial officer Joe Price and the bank itself for not disclosing about $16 billion in losses Merrill had incurred before it was bought by Bank of America in an effort to get the merger approved. Afterward, Lewis demanded government bailout fund

Cuomo also sued the bank’s former chief financial officer Joe Price and the bank itself for not disclosing about $16 billion in losses Merrill had incurred before it was bought by Bank of America in an effort to get the merger approved. Afterwards, Lewis demanded government bailout fund

“The private equity industry is not certain what position to take because if we come out in favor, it may not pass, so I’m not sure we should say anything,” said Rubenstein. “I suspect something along those lines will get done in a transition in three to five years so no dramati

President Barack Obama's plans to overhaul the size and scope of US banks is expected to contribute to falls tipped by analysts and futures markets. On Friday, US stocks ended their worst week since October. The US S&P 500 fell 3.9 per cent for the week. Shane Oliver, the chief economist at

The measures would place sweeping new restrictions on a sector seen as responsible for sparking the largest recession since the Great Depression of the 1930s. "A couple of months ago the President began discussing with his economic team the need to include in financial reform more

The measures would place sweeping new restrictions on a sector seen as responsible for sparking the largest recession since the Great Depression of the 1930s. "A couple of months ago the President began discussing with his economic team the need to include in financial reform more

Obama called top bank chiefs to the White House to urge them to free up lending for more businesses and to stress they had an obligation to taxpayers to pay back support during the crisis with an expansion of credit. "America's banks received extraordinary assistance from American taxpayers to...

JUST as the economy appears to be recovering, Australia's top banking regulator has issued a blunt warning for the banks: memento mori. Latin for ''remember that you will die'', the term is designed to remind those banks that have steered through the global crisis of their own...

Chief financial officer John Stanhope told an institutional investor briefing that Telstra could sell fixed-line assets to the NBN Company, but shareholders would want a guarantee of a return on such a transaction. "Our shareholders would rightly not be happy if we vended some assets for...