Tag Archives: brian moynihan

Bank of America Closes Down A Lending Division

Bank of America today saw its stock price fall below $6 for the first time since the crisis of 2008. Bank of America is trimming and selling off much of its troubled lending program, particularly in the mortgage sector. Unable … Continue reading

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Will Countrywide Go Bankrupt?

Bank of America made some terrible acquisitions in 2007 — particularly Merrill Lynch and Countrywide. These purchases have cost the bank many billions of dollars more than they initially budgeted. Countrywide in particular is just a sink hole. The losses … Continue reading

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America’s Biggest Bank Is Bank Of America

Bank of America become so big thanks to some unwise acquisitions in 2008 — principally Countrywide and Merrill Lynch. The Countrywide purchase made Bank of America the nation’s largest supplier of mortgages but this came at a huge cost. Bank … Continue reading

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Bank Of America’s Mortgage Woes

Bank of America owns more mortgages than any other lender. Given the depressed state of the mortgage market, would you like to be in this position? I would not. Bank of America must be ruing its purchases of Merrill Lynch … Continue reading

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Bank Of American Pushes Back At The Government

During the 2008 financial meltdown, Bank of America agreed to buy Merrill Lynch, even after it became clear that the deal was not in the bank’s self-interest, but Treasury secretary Hank Paulson jawboned Bank of America’s CEO into the deal … Continue reading

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Bank of America’s Mortgage Mess

Buying Countrywide boosted Bank of America from the number six mortgage originator in the United States to number one. But this purchase came with numerous headaches. Perhaps Brian Moynihan can be the aspirin? Regulators are saying to the big banks, … Continue reading

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