Articles About Bank Of America

The nation’s pay czar is widening his review of how much money hundreds of banks paid their top executives during the 2008 financial crisis. Kenneth R. Feinberg, officially the Special Master for Executive Compensation, is asking for details on compensation at 419 banks that were bailed out by the Treasury Department’s Troubled Asset Relief Program […]

Eleven American banks that received money from the Troubled Asset Relief Program (TARP) originated 13 percent more loans in December than they had the previous month. The Department of the Treasury released this information in its monthly survey of loans made by recipients of the $700 billion government bailout money. According to the Treasury Department, […]

An independent audit released by the bipartisan Congressional Oversight Panel (COP) has found the $700 billion Troubled Asset Relief Program (TARP) to be effective, so much so that the Department of the Treasury has extended it to October 3, 2010.  Treasury Secretary Timothy Geithner plans to use the remaining funds to assist families facing foreclosure […]

David Tepper’s shrewd bet that the nation would avoid a second Great Depression inspired him to buy bank shares at rock-bottom rates, a move that has earned his Appaloosa Management hedge fund an estimated $7 billion worth of profit during 2009.  Last winter, Tepper invested heavily in Bank of America stocks selling for $3 a […]

The commercial bond market may be opening up slightly as Bank of America (BofA) prepares to sell $460 million worth of bonds collateralized by properties owned by Fortress Investment Group. The bonds that BofA is arranging are ineligible for TALF, another positive sign that the commercial mortgage market might finally be showing signs of improvement. […]

The Federal Reserve is considering regulating banks’ pay policies to make certain they discourage employees from making the irresponsible gambles that led to 2008’s financial meltdown.  The Fed’s proposal would apply to thousands of banks, including some that did not receive bailouts. Under the Fed’s proposal, the central bank would review – and could say […]

On the first anniversary of the collapse of Lehman Brothers and the onset of the global financial crisis,  President Barack Obama used a Wall Street speech to call for stringent new regulation of United States markets.  After Lehman’s collapse, the American government infused billions of dollars into the financial system and took major stakes in […]

The tragic death of the “King of Pop” provides an interesting insight into how hedge funds and private equity groups buy loans  in anticipation of future earnings. Michael Jackson made real money during his 40 years as an entertainer; unfortunately, he also lost a lot of money, especially over the last 10 years. Reports are […]

Bank of America has pulled the plug on Chicago’s high-profile Waterview Tower with its filing of a foreclosure lawsuit against the 90-story condominium and hotel tower overlooking the Chicago River.  The bank has sued to collect $20 million from the developer, an affiliate of Chicago-based Teng & Associates, which stopped construction last year. The building’s […]

The Treasury Department is spending the first $250 billion of the $700 billion rescue bill that Congress recently approved in an attempt to defuse the financial crisis that has dominated the headlines for weeks.  According to an article on GlobeSt.com the move – which partially nationalizes the banking system – is seen by some as […]