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Ben Bernanke
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Latest Headlines
Dimon sounds off in interview
The famously combative Jamie Dimon granted FOX Business a lengthy interview, in which he pulls no punches.
The good news for his fans: When asked how long he intends to remain as CEO of JPMorgan Chase, he said, “Hopefully many years. I serve at the pleasure of the board who can fire me tomorro
Behind the battle for Wachovia
Behind every blockbuster deal, there's a story. Sometimes it takes years for it to come to light--if ever. A new book takes an insider look at how Citigroup (NYSE: C ) and Wells Fargo (NYSE: WFC ) fought for Wachovia.
The battle featured Sheila Bair of the FDIC in an unlikely role as ref
Bernanke testifies at House hearing
The politics of the Bank of America-Merrill Lynch deal were on display at a much awaited House hearing featuring Ben Bernanke. "I did not tell Bank of America's management that the Federal Reserve would take action against the board or management," Bernanke said, as reported by the AP . "Moreov
Can the bull save Bank of America?
Bank of America's new a $10 million print and online advertising campaign--which will start up in earnest in July---touts a new Bank of America Merrill Lynch investment bank division, aiming to leverage the brand value of Merrill's famous bull. Later this year, according to the Financial Tim
Ken Lewis treads a fine line
My conclusion is that Ken Lewis's performance at the House hearing was enough to keep federal regulators from demanding his job. (The new board may be another matter). Lewis went before sometimes skeptical members of the House Oversight and Government Reform Committee and did his best to convince
Emails show pressure on Bank of America
Documents released by Republicans paint a not-so-flattering portrait of federal regulators exerting pressure on Bank of America to conclude its deal with Merrill Lynch, even though the latter was fast deteriorating. Recall that Bank of America CEO Ken Lewis ignited a real brou-ha-ha after he testi
Ken Lewis vs. top government officials in hearing?
The House Committee on Oversight and Government Reform apparently intends to hold hearings soon that would feature Bank of America CEO Ken Lewis and some top government officials, who have not yet been named. The potential for drama is high.
Recall that Lewis testified to New York AG Andrew Cu
Bank of America bombshell hurts all
No one looks good in the wake of the bombshell news that Bank of America CEO Ken Lewis fingered Fed chairman Ben Bernanke and then Treasury Secretary Henry Paulson for his decision to not publicly disclose much about the declining state of Merrill Lynch. Lewis once again looks like a guy who can't
Nationalization as a semantic issue
Top government officials have trying hard to stick to their talking points on nationalization: We do not favor nationalization, nor are we planning for it. Fed chair Ben Bernanke told congressmen that nationalization "is when the government seizes the bank and zeros out its shareholders...we don't
Why the underwhelming response to the new plan?
There are two main reasons for the underwhelming response to the new bank bailout plan.
1. Not enough details. Frankly, people need more specifics, especially when it comes to how a bad bank would value bad assets. That has been an issue from the beginning and the plans did not address it. The
