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A list of companies, governmental and quasi-governmental agencies (government-sponsored enterprises), and/or non-profit organizations involved in the various economic and financial crises of 2007–2008.
Bank of America: bank $7.95 bln [17] [18] [19] Canadian Imperial Bank of Commerce: ... Bloomberg, May 19, 2008; Bloomberg, August 12, 2008 (commentary ) References
In August 2008, Lehman reported that it intended to lay-off 6% of its work force, 1,500 people, just ahead of its third-quarter-reporting deadline in September. [9] On August 22, shares in Lehman closed up 5% (16% for the week) on reports that the state-controlled Korea Development Bank was considering buying Lehman. [11]
The company agreed to be acquired by Bank of America on September 14, 2008, at the height of the Financial crisis of 2007–2008, the same weekend that Lehman Brothers was allowed to fail. The acquisition was completed in January 2009 [ 2 ] and Merrill Lynch & Co., Inc. was merged into Bank of America Corporation in October 2013.
The Countrywide financial political loan scandal in 2008-2009 involved U.S. politicians who allegedly received favorable mortgage rates.. In June 2008 Conde Nast Portfolio reported that numerous Washington, DC politicians over recent years had received mortgage financing at noncompetitive rates at Countrywide Financial because the corporation placed the officeholders in a program called "FOA's ...
About three weeks ago, TD Bank pleaded guilty for failing to maintain an anti-money laundering program that complies with the Bank Secrecy Act and not filing accurate reports. TD Bank made its ...
Bank of America is trading at the slightly higher end of its average valuation, at 16.7 times earnings and 1.74 times tangible book value, but I don't think investors should be too concerned about ...
January 11, 2008: Bank of America agreed to buy Countrywide Financial for $4 billion in stock. [111] January 18, 2008: Stock markets fell to a yearly low as the credit rating of Ambac, a bond insurance company, was downgraded. Meanwhile, an increase in the amount of withdrawals causes Scottish Equitable to implement up to 12 month delays on ...