Word: latelys
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...Then in late March, the bank became the first major lender to say it would reduce loan balances of homeowners who owe more than their property is worth. Most other banks have only been willing to lower interest rates. Writing down loan balances for such "underwater" homeowners, while costly for the bank, gives borrowers more incentive to stay current on their mortgage. The Bank of America program, which has won praise from consumer advocates, could help as many as 45,000 borrowers reduce what they owe by $3 billion. "Bank of America is to be commended for launching a program...
...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 top Merrill veterans Todd Kaplan and Sam Chapin rejoined the firm. "When I left it was chaotic around here," says Kaplan, an executive vice chairman at Merrill. "Now the place feels like Merrill did in the 1990s. There's none of the infighting. It's terrific...
...Ironically, Moynihan almost didn't stick around long enough at the bank to become its CEO. In late 2008, former CEO Ken Lewis reportedly considering firing Moynihan, who had joined the bank after its 2004 acquisition of FleetBoston Financial, after the executive turned down the post of head of the bank's card division. Lewis even had a press release drafted announcing Moynihan's departure. The bank's board of directors, however, convinced Lewis to keep Moynihan, who was made the bank's chief legal officer and then the head of its retail operations before becoming...
...Kabul, officials are suspicious of Islamabad's long-delayed help in catching the Taliban. A senior official confided to TIME that Karzai, whose relations with the U.S. ambassador and military commanders have been frosty of late, is worried that the U.S. and other NATO countries may be in such haste to end the war that they will agree to a pact with Pakistan that will put Afghanistan firmly back in Pakistan's orbit...
...Sklifosovsky Hospital, one of Moscow's largest, a grim vigil began in the late morning as roughly a dozen people lined up to ask about missing family members. Igor Yegorov was there to look for his wife. "She went to work as usual this morning, and I can't reach her. Hopefully it's just that the cell-phone networks are down. But I don't know," he says, pale and shaking as he waited to check the hospital list. By late afternoon, the flow of ambulances to the hospital had stopped, and service had been restored to the rest...