Bank of America

brianmoynihanbofa2It’s a great day in Moynihan Land. Read more »

  • 11 Nov 2014 at 2:52 PM

Pay Hike Watch ’14: Bank of America

money-showerThe House of Moynihan is said to have gone the way of Credit Suisse, Jefferies, Goldman Sachs, JP Morgan, and Morgan Stanley, and given its tiniest bankers a little something extra. Read more »

  • 07 Nov 2014 at 6:33 PM
  • Banks

Currency Manipulation = Loss Of Currency For BofA

This face finally stuck.Wondering where that $400 million went? You know, the $400 million that was the difference between a third-quarter profit and third-quarter loss for Bank of America? Well, it went exactly where you’d expect it to have gone. Read more »

Charlie Gasparino At WorkCharlie Gasparino is an old school kind of guy. He picks up the phone to chase down stories. He keeps in shape with wind sprints and pounding the speed bag. He types with two fingers and celebrates scoops by eating steaks with his hands. He describes public company CEOs looking “like the kind of guy[s] you’d beat the hell out of,” and he has zero qualms about calling people who question his reporting “friggen jerk[s]” and “dope[s],” in addition to telling them to fetch his dry cleaning. In short, he comes from another era, when men were men and women were referred to as broads. He has little time for sensitivity or a workplace that frowns upon pinching secretaries on the ass and so it should probably come as little surprise that a BofA Merrill exec’s new way of doing things at the once-vaunted brokerage does not sit right with CG. Read more »

An automated e-mail reply from the Bank of America Corp. account of Rurik Jutting yesterday said he was out of the office “indefinitely” and recommended contacting someone who’s not “an insane psychopath.” Calls to the work and mobile phones of Jutting weren’t answered yesterday outside of office hours, and Paul Scanlon, a spokesman for Bank of America in Hong Kong, declined to comment when contacted by Bloomberg News. A Rurik Jutting who is 29 and until recently worked for Bank of America has been named by the South China Morning Post, the U.K.’s Telegraph newspaper and Sky News as the suspect in the murder of two women in Hong Kong’s Wan Chai district…The automated reply also said: “For escalation please contact God, though suspect the devil will have custody. [Last line only really worked if I had followed through..]” [Bloomberg]

Don't do this to him, guys.Bank of American Chairman and CEO Brian Moynihan does have a tendency to look put-upon, as if a favorite pet has just died. Or perhaps like he’s just eaten a piece of sushi that tastes off. Or like he’s just found out that owning Countrywide is going to cost him another X billion dollars. Given that, some pension funds with a few BofA shares in the kitty think the bank should give him a break, rather than that extra title. Read more »

Government auditors are investigating exclusive contracts held by Bank of America Corp. and JPMorgan Chase & Co. to provide financial services inside federal prisons…Bank of America has been paid at least $76.3 million by Treasury to manage inmates’ accounts, money transfers, email service and other technology inside the 121 facilities managed by the Federal Bureau of Prisons. The contract has been amended 22 times since it was awarded without competitive bidding in 2000. The accounts hold the money inmates earn from prison jobs paying as little as 12 cents an hour and supplemental funds sent by family and friends. Inmates use the money for clothing, phone calls, food and other expenses. Treasury says the payments to Bank of America were reimbursed by the Department of Justice, the Bureau of Prisons’ parent agency. JPMorgan issues debit cards to inmates when they are released that contain the balance remaining in their prison accounts. JPMorgan’s original contract was awarded in 1998 and amended at least 14 times. It was re-upped in 2008 and amended at least four times since then. [Center For Public Integrity]