News on Bert Ely

Banks, experts eye possible ways around Obama fee

2010-02-22T20:10:55Z

<div><p>NEW YORK (Reuters) - No sooner does Washington propose a new tax than an army of experts tries to figure out ways to avoid it.</p><p>That is already the case with U.S. President Barack Obama's proposed fee on banks, designed to ensure that Wall Street ba...

BofA names executive team, looking for new CFO

2010-02-22T21:26:19Z

<div id="subtitle">Bank of America reshuffles management team, announces plans for new chief financial officer</div><div><p>Bank of America Corp. is shuffling its senior management team, moving its chief financial officer over to lead consumer and small business banking and naming a new chief risk officer.</p><p>The changes anno...

More acquisitions, failures in store for US banks

2010-02-27T12:57:47Z

<div id="subtitle">With stress tests behind it, banking industry headed for more acquisitions, failures</div><div><p>The U.S. government says it won't let any of its 19 largest banks fail. That doesn't mean they'll all be around in a couple years.</p><p>This week's stress tests showed that while many big banks need more capital, regulators aren't declaring...

BofA to sell 3 corporate jets, Merrill helicopter

2010-03-02T08:07:55Z

<div id="subtitle">Bank of America says it's selling 3 corporate jets and a Merrill helicopter to save costs</div><div><p>Bank of America Corp. said Wednesday it is selling nearly half of its corporate aircraft as the bank looks to scale back costs.</p><p>The

Rescue efforts show difficulty of fixing bank woes

2010-03-02T19:49:50Z

<div id="subtitle">US, British rescue plans shows difficulty of forcing banks to lend as credit crisis mushrooms</div><div><p>The day before President-elect Barack Obama takes office, the escalating troubles facing major banks around the world couldn't be clearer.</p><p>On Monday, the British government swooped in to boost its stake in troubled Federal Reserve's decision allowing GMAC Financial Services to become a bank holding company would spur many more people to buy cars.</p&gt...

Mortgage plan shows increased gov't role

2010-03-01T07:13:18Z

<div id="subtitle">Plan to lower mortgage rates highlights increased role of Uncle Sam in providing home loans</div><div><p>If you're looking for a mortgage, Uncle Sam may be the only game in town.</p><p>The government has already increased its share of the mortgage market to around 90 percent from around 55 percent last year as Wall Street licks its wounds fr...