HuffingtonPost did a great piece a couple days ago showing pictures of which celebs should play key players in a Too Big To Fail movie—for those who don’t know, HBO is making Andrew Ross Sorkin’s book of the same name into a movie, and that’s what prompted HuffPo’s slide show. But there’s one big error [...]

Bank of America announced that Brian T. Moynihan, 50, head of the bank’s consumer and small business banking unit will replace Ken Lewis as president and CEO effective January 1. Prior to this announcement, it was rumored that Bank of New York chief Robert Kelly was in talks. Moynihan joined FleetBoston Financial in 1993 as [...]

Bloomberg reports that Bank of New York chief Robert Kelly is in talks with Bank of America to take the CEO slot from Ken Lewis. Regardless of whether Kelly takes it, it’s easy on the one hand to understand why this slot has been so hard to fill. But on the other hand, as JW [...]

What a difference one year and unprecedented levels of Fed and Treasury help makes. Bank of America said today they will repay TARP funds in full with $26.2b in cash and $18.8b in proceeds raised by a common stock issue that begins Thursday, December 3. This will obviously dilute the shares, but it could help [...]

“Most of the stuff people worry about ain’t never gonna happen anyway.” But in this case, I bet a change will be made. Everyone knows the drill: small originators sell loans to mid-tier investors such as AmTrust or Franklin American, who in turn sell their loans to companies like Wells, Chase, Bank of America, or [...]

Is Ken Lewis suggesting a rebirth of Glass Steagall? If so, the Grave of Phil Gramm’s must be turning over. And also the special interests of Gramm’s decades-long crusade to deregulate banking must have gotten to him, as the story that started this rumor has been updated. Lewis said something of the sort after a [...]

John Thain, former Merrill Lynch CEO until his firm was taken over by Bank of America in September, was ousted from BofA after it was revealed that he advanced bonuses to top execs knowing that BofA was taking them over and may even be using government funds to do it. It was also revealed that, [...]

Bank of America’s Kiefer Sutherland-voiced ads make the firm sound smooth and certain. But after more than $100b in acquisitions since 2001 including troubled Countrywide and the Merrill Lynch deal that is set to close in the coming weeks, things might not be as smooth as they sound on TV. Bloomberg reports on the troubles [...]