Word: lynching
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...week is sure to be volatile, even as our captains of industry try their best to keep the faith. The CEOs of Bank of America and Merrill Lynch held a joint press conference to discuss in upbeat tones B of A's planned takeover of Merrill, while Treasury Secretary Hank Paulson held a press conference to tell Americans they should remain confident in the "soundness and resilience in the American financial system...
...question remains whether, as Lehman begins the forced selling of its more troubled assets, that will drive prices for some real estate securities down so far that other firms land in trouble as well. Merrill Lynch North American economist David Rosenberg predicts that Lehman's demise will begin a long, painful process of unraveling trillions of dollars in derivatives "to identify how big the potential losses are and where they are being held...
Before he became the President, CEO and Chairman of Bank of America Corp. - and the man whose $50 billion purchase of brokerage firm Merrill Lynch & Co. was some of the only good news on one of Wall Street's worst-ever days - Kenneth Lewis was a Mississippi boy who lived in a town so small he once joked that you had to go one town over "just to be born." He went to Georgia State University and then to work at North Carolina National Bank (NCNB) in Charlotte as a credit analyst - his first banking job. That was back...
...Bank of America's list of bragging rights and saving Countrywide from possible bankruptcy. With that purchase, Lewis became a kind of quasi-savior on Wall Street - the man who helped you stand when you could no longer do it on your own. If everything goes smoothly, the Merrill Lynch & Co. purchase - which some analysts called "too good an opportunity" to pass up - will make Bank of America into the nation's largest brokerage firm as well, and help Lewis to save yet another drowning company...
...Asia's economies have held up quite well, but in recent weeks, economists have been scaling back their growth forecasts. Merrill Lynch last week cut its Asia GDP growth estimate to 7.7% from 7.9% for 2008, citing weak demand in industrialized economies for Asian exports. Though that's far from a recession, Merrill says that Asian growth is falling below the expected trend of about 8%. Asian policy makers have been limited in their efforts to stimulate growth because of rising inflation, which has forced most central banks to hike interest rates. Indonesia, for example, raised its benchmark rate again...