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Bank of America Will Need to Raise More Than $30B
Wall Street appeared headed for a slightly lower open Wednesday, as investors worry banks may need more capital than previously thought.
BofA CEO says was told to be quiet on Merrill
Bank of America Chief Executive Kenneth Lewis told the New York attorney general he believed former Treasury Secretary Henry Paulson and Fed Chairman Ben Bernanke wanted him to keep quiet about the worsening terms of the bank's acquisition of Merrill Lynch, according to testimony reviewed by The Wall Street Journal.
Cuomo, Frank pressure BofA to disclose bonus info
On Friday, Cuomo asked a judge to reject a request from Bank of America to keep information confidential about the bonuses. Bank of America on Thursday requested a temporary confidentiality order be expanded to cover anyone who testifies on individual bonuses granted by Merrill. The order originally applied just to the testimony given by former Merrill Chief Executive John Thain.
BAC Bank of America: Cuomo is seeking data on bonuses at BofA
WSJ reports New York state's attorney general, Andrew Cuomo, this week issued a subpoena to Bank of America, asking for details on how it allocates its bonuses, according to a person familiar with the matter.
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