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Lewis' problems came to a head this summer. Bank of America had struck a deal with the SEC to pay $33 million to end an investigation into whether some unnamed Bank of America executives had mislead shareholders when it purchased Merrill. The SEC alleges that in early December, on the eve of a vote to approve the Merrill deal, Bank of America executives told shareholders that no bonuses would be paid to Merrill executives prior to the acquisition. In fact, Bank of America had agreed more than a month earlier to approve the payment of more than $5 billion...
...also abrupt. Just months ago, Lewis told Congress he intended to stay on as head of Bank of America until all the assistance it had gotten from the government to survive the financial crisis had been repaid. It seems unlikely that Bank of America will be able to pay back the government $45 billion anytime soon...
While whether Williams’ risk will pay off is still up in the air, Berry says he has no regrets...
...million - almost as many as in the whole state of California. (Circle K has a third of that number.) An estimated 85% of Hongkongers visit a 7-Eleven every month, according to the company, where they can do everything from withdraw money and replenish their subway passes to pay their electricity bill and send money overseas. (See pictures of Hong Kong...
...little of what we have spent has contributed to genuine and lasting progress," said Secretary of State Hilary Clinton in a July 15 speech at the Council on Foreign Relations. "Too much of the money has never reached its intended target but stayed here in America to pay salaries or fund overhead in contracts." Ironically perhaps, one of the best things Clinton can do is to rebuild and finally install new leadership at USAID so it has a better chance of being able to handle all the money that's about to flow to crucial places like Pakistan...