Sponsored by Bank of america

to also convert their preferred shares into common stock, the Journal reported. Until most of the news is known, there will be a lot of volatility and probably a downward trend in the equity market because we don't know how much pain for investors government measures will induce, said Dariusz Kowalczyk, chief investment strategist with SJS Markets in Hong Kong. By which I mean, will curr...

to also convert their preferred shares into common stock, the Journal reported. Until most of the news is known, there will be a lot of volatility and probably a downward trend in the equity market because we don't know how much pain for investors government measures will induce, said Dariusz Kowalczyk, chief investment strategist with SJS Markets in Hong Kong. By which I mean, will curr...

Bank of America Corp Chief Executive Kenneth Lewis told investors in September he was pleased to acquire Merrill Lynch & Co's world-class investment bank -- but as losses there mount, he may just let that key part of its business wither.

If the government gives more help to Bank of America Corp and Citigroup Inc in the near term, it will likely stop short of nationalization, even if a full takeover would be best for the banking system.

Bank of America Corp shares sank below $3 and Citigroup Inc tumbled below $2 on Friday, hammered by growing fears that the U.S. government could nationalize the banks, wiping out shareholders.

Bears could have the upper hand again next week if Wall Street fails to get assurance that major banks can be rescued without being seized by the U.S. government.

Stocks tumbled on Friday, with the Dow industrials ending at a 6-1/2-year low, on fears the government may be forced to nationalize some big banks. Uncertainty about how Washington will rescue beleaguered banks persisted even as the White House issued its most direct statement yet on banks, saying it supported a privately held banking system. The S&P 500 had plunged close to a 12-year low be...

Shares of Warren Buffett's Berkshire Hathaway Inc sank Friday to their lowest level in 5-1/2 years amid concern the insurance and investment company could suffer big losses from bets on world stock markets and U.S. banks. Berkshire's Class A shares fell as much as 6.2 percent to their lowest level since August 2003, before regaining some ground after the White Hous...

Stocks tumbled on Friday, with the Dow industrials closing at a 6-1/2-year low, on fears the government may be forced to nationalize some big banks even as the White House said it supports a privately held banking system. Fears that some major banks could be taken over by the government had driven the S&P 500 close to a 12-year low before the White House issued its most direct statement yet o...

The Dow and the S&P 500 fell on Friday, pummeled by worries about the lack of details on the U.S. government's bank rescue plan, though the S&P pulled back from the brink of a 12-year low after the White House said it supported a privately held banking system. Fears that some major banks could be nationalized had earlier driven the Dow to more than six-year lows. The White House made its...

Shares of Warren Buffett's Berkshire Hathaway Inc sank Friday to their lowest level in 5-1/2 years amid concern about big potential losses from bets on world stock markets and U.S. banks. Berkshire's Class A shares fell as much as 6.2 percent to $73,750, their lowest level since August 2003, before rebounding after the White House said it strongly believed the U.S....

and it's getting worse, said Nouriel Roubini, a prominent New York University economist who forecast much of the credit and housing recession. The cost of insuring $10 million of Citigroup debt for five years rose to $475,000 annually from $405,000 on Thursday, according to data from Phoenix Partners Group. The cost of insuring Bank of America debt rose to $275,000 a year from $245,000. S...

The White House said on Friday it strongly believed in a privately held bank system, after rumors that the U.S. government could nationalize banks caused shares in Bank of America and Citigroup plummet. Let me reassure as best I can on banks, White House press secretary Robert Gibbs told a briefing with reporters. This administration continues to strongly believe that a privately held bank...

Shares in Bank of America Corp and Citigroup Inc tumbled to new multi-year lows in premarket electronic trading on Friday on what analysts and investors said was growing fears the two longtime pillars of the U.S. financial sector could soon be nationalized.

U.S. stocks extended a rout on Friday after a top U.S. senator confirmed the market's worse fears, saying it may be necessary to nationalize some banks, as the S&P 500 closed in on an almost 12-year low. Senate Banking Committee Chairman Christopher Dodd said the nationalization of some banks could be needed at least for a short time, according to a Bloomberg report. The S&P briefly...

Bank of America Corp and Citigroup Inc shares plummeted for a sixth straight day on Friday, hammered by fears that the U.S. government could nationalize the banks, wiping out shareholders.

U.S. stocks tumbled on Friday, depressing the Dow to levels last seen more than six years ago as investors worried a financial sector rescue might involve nationalization of major banks, wiping out shareholders. The mounting fear sent investors scurrying to the relative safety of U.S. government bonds and gold, which rose above $1,000 an ounce. Shares of Bank of America tumbled mor...

Shares of Bank of America Corp and Citigroup Inc plummeted for the sixth straight day on Friday, hammered by increasing fears that the U.S. government could take the control of the banks, wiping out shareholders. Bank of America shares were down 6.6 percent to $3.66 in premarket trading, their lowest level since 1984, while Citigroup fell 12.3 percent to $2.20, their lowest price since 1991. The ...

U.S. stocks headed for a drop at Friday's opening that would extend a rout which has pulled the Dow Jones industrials to a fresh bear-market low, as worries about the fate of major banks escalated. Fears that the U.S. government's bank rescue plan might involve nationalization and that the recession is worsening had investors scurrying toward the relative safety of U.S. government bonds as stoc...

Bank of America Corp Chairman and Chief Executive Kenneth Lewis was subpoenaed last week by New York Attorney General Andrew Cuomo, who is investigating whether the bank violated state law by withholding information from investors, the Wall Street Journal said late Thursday, citing people familiar with the matter.

The Frankfurt-listed shares of U.S. banks Citigroup and Bank of America fell on Friday, with traders and analysts citing fears that big U.S. banks could be nationalized. At 1130 GMT, Citigroup shares were down 6.4 percent in Frankfurt and Bank of America traded 8.0 percent lower. Spokesmen for both banks in London declined to comment. Spokesmen for the banks in New York were unavailable for comm...

Citigroup Inc shares fell to almost 18-year lows on Thursday, with Bank of America Corp stock also plunging, amid renewed fears that growing losses could lead to government control of troubled U.S. banks, wiping out shareholders.

Citigroup Inc shares fell to 17-year lows on Thursday, with Bank of America Corp stock also plunging, amid renewed fears that growing losses could lead to government control of troubled U.S. banks, wiping out shareholders.

U.S. stocks fell to session lows on Thursday as shares of major banks, including Bank of America ,skidded, and further deterioration in the labor market added to worries about the deepening recession. Bank of America dropped 12.47 percent to $4 on the New York Stock Exchange, while Citigroup tumbled 11.3 percent to $2.58. Uncertainty about how the Obama administration w...

for U.S. credit cards rose to 7.82 percent in January from 7.71 percent in December, while the rate for loans at least 30 days delinquent increased to 5.02 percent from 4.78 percent. The McLean, Virginia-based company said it expects loan losses from U.S. cards to increase to 8.1 percent in the first quarter. In auto loans, Capital One's charge-off rate rose to 6.09 percent in January from 5.9...

for U.S. credit cards rose to 7.82 percent in January from 7.71 percent in December, while the rate for loans at least 30 days delinquent increased to 5.02 percent from 4.78 percent. The McLean, Virginia-based company said it expects loan losses from U.S. cards to increase to 8.1 percent in the first quarter. In auto loans, Capital One's charge-off rate rose to 6.09 percent in January from 5.9...

Bank of America announced it made a $402 million payment to the federal government to pay back the U.S. government's investment as part of the $45 billion in bailout funds it received last year and early this year.

The lawmakers of House Financial Service Committee on Wednesday are holding a hearing with chief executive officers of eight banks that received injections of capital from the government's Troubled Asset Relief Program.

Merrill Lynch & Co. is reported to have given out a combined $121 million bonuses to the four top executives just before the firm was acquired by Bank of America Corp., according to New York Attorney General Andrew Cuomo.