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| Subject: 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). Better than bailouts? By John Schroy, on April 9th, 2009 |  3 comments  In March 2009, HSBC PLC strengthened its finances by making a preemptive rights offering of new equity. The bank quickly raised $18.5 billion dollars. Unlike Citibank, Bank of America, and other giant US banks, HSBC did not have to sell its soul to the government to stay in business. HSBC had the good fortune to be headquartered in the UK and to have much of its investor base in Europe and other countries where preemptive rights are the law and the customary way to raise capital. April 9th, 2009 | Print Article |  Email Article |  Topics: Bank of America, Citibank, Corporate Governance, HSBC, preemptive rights, United Kingdom | Category: Equity | 3 comments |  Short urlThe McKinsey Heresy By John Schroy, on April 6th, 2009 | 2 comments  The root problem with big banks today is organizational and product line complexity. Excessive complexity in banks can be traced to the reorganization of Citibank in 1956, under Walter Wriston, following the advice of McKinsey and Company. Under the McKinsey structure, banks were transformed into industrial-type marketing institutions with matrix organization by product line. Bank managers were paid to meet budgetary targets, rather than for being prudent bankers. April 6th, 2009 | Print Article | Email Article | Topics: Alfred P. Sloan, Bank of America, Charles Wilson, Chase Manhattan, Citibank, complexity, General Motors, Glass-Steagall Act, matrix organization, McKinsey, nationalization, Peter Drucker, Sandy Weill, systemic risk, Walter Wriston | Category: Financial Market Regulator, featured | 2 comments | Short urlFeatured articles on inside pages
|    Capital Flow Watch has hundreds of articles on economics and investments. Articles have excerpts on the front pages, and on tag, category, search and archive pages. 
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