Word: creditably
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...exercised that skill. About a month ago, the CEO of Countrywide Financial, Angelo Mozilo, called him to ask for help. The beaten-down mortgage lender, whipping boy for everything that went wrong in last year's mortgage meltdown, was facing rumors of bankruptcy after burning through an $11.5 billion credit line. Lewis had already invested $2 billion of his company's money in Countrywide, a sum by then worth half of that, but he heard Mozilo out. "He just said, 'I at least would like you to look at this company. It's a good company. I think...
...West Coast, where it captured BofA in 1998 and hauled the name back to Charlotte. Since Lewis became CEO in 2001, the bank's reach has exploded in every direction. BofA is now No. 1 in deposits (with the $47 billion purchase of FleetBoston Bank), No. 1 in credit cards ($35 billion for MBNA) and No. 1 in wealth management ($3.3 billion for U.S. Trust), and with the Countrywide deal, it will soon be No. 1 in mortgages. If Wall Street once looked at this bank as some sort of Southern arriviste, that notion was erased for good in November...
...happy ending to the fable of the subprime-mortgage market, for BofA it is really the climax of a 30-year saga of grand ambition. What next? "The only way to really succeed," Lewis says, "is to find beauty and excitement in organic growth." For BofA, that means getting credit-card holders to open checking accounts and turning mortgage borrowers into private-banking clients. It's the same strategy that Citi has pursued without much success, but Lewis says his bank is focused on just one country, the U.S. "That's a big advantage and a big difference," he says...
...brief affair with Beth and wants to get back to her; Lily, although nobody hits on her, is a definite hottie; Lizzy is the disposable outsider; and Hud is the kind of guy who'll tag along to anything, including Armageddon. (Still, you have to give Hud credit. He may be running for his life for the 10 hrs. of the plot, but he never drops the camera or forgets to point it at the creatures that are ready to kill him. The guy's a trouper...
...Arabs, the biggest bone of contention, as it has been so often in the past, was Bush's handling of the Palestinian issue. Arab commentators gave Bush little credit for being the first American President to publicly support an independent Palestinian state, focusing instead on what they regarded as his Administration's failure to pressure Israel into allowing Palestinians to attain their rights. The impression did not improve when just after Bush left Jerusalem after encouraging the two sides to make peace, Israel launched a ground attack and air strike on Palestinian militants in Gaza, prompting Palestinian President Mahmoud Abbas...