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Bank of America and other banks are under great pressure, an executive says. (AP) - Bank of America's outgoing Chief Executive Ken Lewis says the economy may be improving but the recovery in the financial industry remains slow. Full Article at NewYorkBusiness.com
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NEW YORK — The Dow Jones Industrial Average scratched out a fifth straight gain Tuesday as American Express, Kraft and Bank of America all posted solid gains after making upbeat announcements. Full Article at Hampton Roads Daily Press
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BofA CEO says financial industry recovery slow By IEVA M. AUGSTUMS AP Business Writer Haraz N. Ghanbari FILE - In this Feb. 11, 2009 file photo, Bank of America Chairman and Chief Executive Officer Ken Lewis testifies on Capitol Hill in Washington. Full Article at KansasCity.com
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BOSTON (MarketWatch) -- Bond-insurance stocks weighed on the financial sector Tuesday after insurer MBIA Inc. racked up its fifth quarterly loss in the past two years. The broader financial sector was lower following Monday's rally. Full Article at MarketWatch
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In what may be his last address to analysts, Lewis said at a conference in New York that Bank of America and other banks continue to be under great pressure. Full Article at San Francisco Chronicle
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There is reason to be at least cautiously optimistic ... The government has responded for this recession with unprecedented fiscal and monetary stimulus, businesses have liquidated inventories very aggressively, consumers have already adjusted savings rates to a large degree and the housing sector, whic...
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They ought to think through what they are doing, and they ought to understand that a year ago a lot of these institutions were teetering on the brink, and the United States government and taxpayers came to their defense ... They have responsibilities, and they ought to meet those responsibilities.
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Excluding those items, our revenue continued to hold up well
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I'm taken aback by the advice. When shareholders are asked to vote, they deserve a fine-tuned picture
SOURCE: United Press International
