Word: crisises
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The financial meltdown has claimed the careers of many banking-industry stars. But no executive has had as big a roller-coaster ride during this crisis as Lewis. At its start, Lewis and Bank of America looked to benefit from the turmoil facing the banking business. The firm, based in...
When McColl retired in 2001, Lewis took over. But rather than retrenching as most people expected, Lewis proved he liked the art of the deal as much as McColl. In 2003, Bank of America bought Boston-based bank Fleet for $47 billion. Two years later he spent $35 billion to...
Many analysts believe that the Merrill deal, while risking the solvency of Bank of America, will end up being a boon for the bank. Merrill still has a strong investment-banking franchise, and even in the depth of the financial crisis, its wealth-management business continued to be profitable. Nonetheless...
Even so, says Shifter, Brazil and the U.S. are likely to demarcate their hemispheric efforts when the Honduran crisis is over: Brazil focused on South America, where Washington's performance seems increasingly ham-handed, and the U.S. on Mexico, Central America and the Caribbean, where Brazil has scant interests. For...
But Lawrence Sheets, Caucasus project director of the nonprofit organization Crisis Group, is skeptical about whether the report will change anything. "Russia has firmly re-established its geopolitical position in the region, so there is almost no prospect of Georgian reunification," he says. Since the cease-fire, Russian troops have...