Search results
Results From The WOW.Com Content Network
January 11, 2008: Bank of America agreed to buy Countrywide Financial for $4 billion in stock. [105] 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 ...
Bank of America, Charlotte, North Carolina: Mortgage lender $ 4 × 10 ^ 9 [10] July 14, 2008: Alliance & Leicester: Grupo Santander: Retail and mortgage bank £ 1.26 × 10 ^ 9 [11] August 26, 2008: Roskilde Bank: Danmarks Nationalbank (Danish Central Bank) Retail bank $ 896,800,000 (kr4,500,000,000) [12] September 5, 2008: Silver State Bank ...
During the weekend of September 13–14, 2008, Lehman Brothers declared bankruptcy after failing to find a buyer; Bank of America agreed to purchase investment bank Merrill Lynch; the insurance giant AIG sought a bridge loan from the Federal Reserve; and a consortium of 10 banks created an emergency fund of at least $70 billion to deal with the ...
Number of jobs cut since recession began: 40,650 In early 2008, the investment bank and brokerage cut 15% of its workforce as the credit crisis gripped the sector and the company's earnings ...
The Federal Deposit Insurance Corporation (FDIC) may assume deposits of banks or allow other banks to assume them. The largest banks to be acquired have been the Merrill Lynch acquisition by Bank of America, the Bear Stearns and Washington Mutual acquisitions by JPMorgan Chase, and the Countrywide Financial acquisition also by Bank of America.
Bank of America economists are nixing concerns about a housing crash like the one experienced in 2008. Instead, they say, the market is more reminiscent of four decades ago.
The CEO of Bank of America, Brian Moynihan, said that the financial giant no longer believes a recession is on the horizon for the American economy, hinting that the Biden administration and ...
October 10, 2008: Monroe Bank and Trust 98 16 Meridian Bank Eldred: Illinois: October 10, 2008: National Bank 39.2 17 Alpha Bank & Trust Alpharetta: Georgia October 24, 2008: Stearns Bank, N.A. 354.1 18 Freedom Bank Bradenton Florida October 31, 2008: Fifth Third Bank 287 19 Franklin Bank Houston: Texas: November 7, 2008: Prosperity Bank 5,100 20