Word: lewises
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That is, until the fourth quarter. In mid-September 2008, in a deal pushed by regulators, BofA agreed to buy Merrill Lynch. The acquisition actually boosted BofA's capital ratios, but it also added losses to an already fragile capital structure; Merrill Lynch lost $15 billion in the fourth quarter...
The Merrill losses, which weren't publicly revealed until early January, have angered shareholders, some of whom have sued the company for not informing them sooner. And last week, the losses also led Lewis to ask Merrill's top executive, John Thain, to resign for failing to keep BofA officials...
No matter what happens, things have definitely changed for Lewis and other former titans of the banking business. A few months ago, BofA's CEO was hailed for running a bank so prosperous that it was able to swallow mortgage lender Countrywide Financial and investment bank Merrill Lynch in the...
With the game knotted up 56-56, Rosen faked and drove to the hoop to draw a foul from Lin. Rosen hit both shots and on the other side, his counterpart, freshman guard Oliver McNally had a tough jumper barely rim out, which Penn forward Cameron Lewis tied up for...
The game began with a wild and sloppy first half. Penn jumped out to a 12-6 lead five minutes in as it constantly beat the Crimson up the floor for baskets. Harvard answered that with a 12-0 run in which it forced four turnovers and watched Eggleston blow...