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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...

Author: /time Magazine | Title: BofA's CEO: How to Win Friends and Influence People | 3/30/2010 | See Source »

...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...

Author: /time Magazine | Title: BofA's CEO: How to Win Friends and Influence People | 3/30/2010 | See Source »

...say the "area for sexual pursuit" is 2.5 times larger in the male brain than in the female brain. Do you worry that people will read that and decide your book confirms the stereotype? I think there is a kernel of truth in stereotypes. But [understanding human biology] doesn't give males a pass on being civilized or any parent a pass on having to train their sons...

Author: /time Magazine | Title: The Male Brain: More Complex Than You Think | 3/30/2010 | See Source »

...talk about the ones who don't. You say that one gene in particular - which scientists first started studying in voles - may play a role in infidelity. It's called the vasopressin receptor gene. The prairie vole, which is monogamous, bonds with one female for life, even if he's presented with other, fertile females. His cousin, the montane vole, is kind of a hit-and-run guy. He doesn't stick around at all. Scientists found that the montane vole had a short version of the vasopressin receptor gene, and the monogamous one had a long version...

Author: /time Magazine | Title: The Male Brain: More Complex Than You Think | 3/30/2010 | See Source »

...humans they have identified, so far, about 17 different lengths of [the vasopressin receptor gene]. There are several studies that have shown that those males with the longer version are more likely to be married, and their wives are more likely to say they have a happy, successful marriage and there hasn't been any infidelity. The ones with the shorter ones are more likely to be bachelors...

Author: /time Magazine | Title: The Male Brain: More Complex Than You Think | 3/30/2010 | See Source »

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