Taxpayers are already on the hook for $180 billion in losses at Fannie Mae and Freddie Mac. That number is going to rise, perhaps significantly.
The clever synonym for more taxpayer losses is "treasury Advance". With that understanding, please consider Fannie Mae's Losses Narrow but Treasury Advance Requested.
(Reuters) - An activist group is urging Bank of America Corp to allow all shareholders to enter next week's annual meeting after it says Wells Fargo & Co excluded attendees who disagreed with the bank's business practices. The group, called 99% Power, sent a letter on Monday to Bank of America Chief Executive Brian Moynihan asking to meet with him by Friday May 4 to ensure the meeting room is large enough and that shareholders are allowed to designate a proxy to attend on their behalf. ...
Shareholders and home loan customers ran roughshod over Bank of America's management Wednesday, as its chief executive said it was still struggling with its mortgage portfolio in a deeply troubled housing market."We are a much stronger company than last year," CEO Brian Moynihan said at the largest US banks shareholder meeting in Charlotte, North Carolina.
By Don Dion:
With Citigroup (NYSE:C) finally working out an agreement with the Department of Justice, Bank of America (NYSE:BAC) is next in line to settle for fraudulent mortgage securities practices during the
Bank of America named Brian Moynihan to be its next chief executive late on Wednesday, keeping the job within the company and disappointing institutional shareholders who have been agitating for a change in leadership at the Charlotte, North Carolina bank