Word: crisises
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In December, when Brian Moynihan was tapped to be the chief executive of Bank of America, many said he got the job because no one else would take it. Just days before, Robert Kelly, the CEO of Bank of New York Mellon, had become the latest high-profile executive to...
Bank of America employees say Moynihan has been been able to lift morale at the bank, which was battered by the financial crisis. After Bank of America struck a deal to buy Merrill Lynch in late 2008, many of Merrill's employees fled. Now some are coming back. Recently, two...
The Pope's defenders say he has tried hard to force the church to confront its demons openly. "As Pope, he has been unusually and laudably aggressive in dealing with abusers," says David Gibson, author of a Benedict biography. Benedict has on several occasions called for "absolute transparency" on sexual...
Steve Eisman knew that calamity would eventually come. The hedge-fund manager bet big against the subprime-mortgage market and won. So did Mike Burry, a social recluse who began investing at night during his medical residency. Jamie Mai and Charlie Ledley, two 30-somethings who started trading in a...
The MBA oath—a voluntary pledge that aims to “professionalize” business management in light of the recent financial crisis and criminal activities of business executives by creating a shared code of ethics similar to the Hippocratic Oath—was inspired by a...