Brian Moynihan
Quote of the Day: No Such Thing as Capitalism for Big Banks
In a great article about the anti-capitalist nature of big banks, James Kwak sums up the different rules medium sized business and giant financial institutions are subjected to: In general, the mechanism that breaks up inefficient conglomerates is the market for corporate ...read more
How Bank of America Execs Hid Losses—In Their Own Words
by Cora Currier: When Bank of America announced it was buying Merrill Lynch in September 2008, bank execs told their shareholders that the merger might hurt earnings a touch. It didn't turn out that way. Losses at Merrill piled up over the next two months, before the deal even ...read more
How a 22 Year Old Took on Bank of America
Molly Katchpole, 22 years old, took on Bank of America over its ridiculous debit card fee and won. Just goes to show what happens when people decide to stand up to power. From the Guardian: I called on Bank of America to back off the new debit card fee, knowing that if Bank of ...read more