Articles
Selected category: Banks
The bloodletting isn't done yet.
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The business headlines yesterday and today are full of stories about a certain brokerage that is having financial trouble. Of course, articles and announcements like what I have read only serve to hurt the public. Can you say "run on... Read →
With the big investment banks done reporting this week, one thing has become clear, Goldman Sachs is in a class by itself. Unlike the other banks, Goldman anticipated the credit crunch and put hedging strategies in place that produced the... Read →
Yesterday, Bank of America announced that it was investing $2 billion to acquire a stake in Countrywide Financial. The investment is another example of how dominant Bank of America is becoming in the country's financial system. It already is the largest retail bank in the country, serving tens of millions of customers and has the largest branch and bank network. The company also purchased MBNA last year to have one of the largest credit card portfolios.
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