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| Tag: Bank of America Bank of America Corporation (NYSE: BAC) is a financial services company, the largest bank holding company in the United States, by assets, and the second largest bank by market capitalization. Bank of America serves clients in more than 150 countries and has a relationship with 99 percent of the U.S. Fortune 500 companies and 83 percent of the Fortune Global 500. The company is a component of the Dow Jones Industrial Average (DJIA) and a member of the Federal Deposit Insurance Corporation (FDIC). State finance: By John Schroy, on July 6th, 2009 |  One comment  On July 2, 2009, the Federal Reserve announced that it was aware that the State of California was issuing its own currency to pay its bills. This, of course, is consistent with the lack of fiscal discipline which is the hall mark of far left Californian politicians, of which Nancy Pelosi is a prime example. California has experience with nut-case economics, having been the home of the famous Emperor Norton who issued his own currency to pay his bills in the mid-19th century. July 6th, 2009 |  Print Article |  Email Article |  Tags: Bank of America, Barbara Boxer, California, Chase Manhattan, FDIC, Henry Waxman, legal tender, money, Nancy Pelosi, Wells Fargo | Category: Financial Market Regulator | One comment |  Short urlGood and bad banks By John Schroy, on May 8th, 2009 | Leave a comment  In May 2009, the Obama administration divided some of America’s largest banks into ‘good banks’ and ‘bad banks’. This broke a long-standing practice of protecting the reputation of the US banking system. The Obama government seized TARP funds as an instrument of political power. Banks, large and small, are now eager to escape the trap of taking TARP funds, which will require them to raise $74.6 billion, either by selling equities on the market, or from profits. May 8th, 2009 | Print Article | Email Article | Tags: ACORN, Banco Brasileiro de Descontos, Bank Indonesia, Bank of America, Barack Obama, Barney Frank, BB&T, Ben Bernanke, Capital One, Chris Dodd, Chrysler, Citicorp, Federal Reserve Bank, Fifth Third, Henry Paulson, JP Morgan Chase, KeyCorp, Mercantilist Ideology, Merrill Lynch, Regions Financial, reserve currency, SunTrust, TARP, Timothy Geithner, United Auto Workers, US Bancorp, US dollar, Wells Fargo | Category: Financial Market Regulator | Leave a comment | Short urlHard Times By John Schroy, on April 17th, 2009 | One comment  The Crash of 2008 was the end to what I call, “the old capital markets”. A new era is beginning, but form and detail are hidden in the mists of change. It may be a decade or so before new structures and directions are visible. Many were thrown out of work by the Crash, but before getting into the unpleasant chore of actually looking for a job, you should consider whether or not you even want to work in the new capital markets. April 17th, 2009 | Print Article | Email Article | Tags: Adam Smith, back office, Bank of America, Bear Stearns, Bernard Madoff, book-entry settlement, Brazil, Capital Market Wiki, Citicorp, computerized trading, Edinburgh, FASB Statement 157, hedge funds, Hong Kong, Lehman Brothers, London, Margaret Thatcher, Merrill Lynch, New York City, SEC Rule 10b-18, Shanghai, Singapore, Stock Buybacks, unemployment | Category: World Economy | One comment | Short urlFeatured articles on inside pages
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