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Jan. 9 (Bloomberg) -- When Kenneth Lewis , chief executive officer of Bank of America Corp ., unveiled the acquisition of Merrill Lynch & Co. on Sept. 15, he called its 16,000-strong brokerage group the firm’s “crown jewel.” Only a month later ...

Brokers Disdain Toaster Salesmen in Bank America’s Merrill Deal - Bloomberg

Jan. 9 (Bloomberg) -- Sumitomo Mitsui Financial Group Inc. may set up a wealth-management unit in Japan with Barclays Plc , aiming to tap the nation’s $15.9 trillion in household assets by harnessing the U.K. lender’s expertise and products ...

Sumitomo Mitsui, Barclays May Start Japan Wealth Unit (Update2) - Bloomberg

ST. PAUL, Minn. -- When Chuck Bidwell and Jennifer Guarino took over J.W. Hulme Co. a few years ago, their plan was to transform the tiny maker of duck-hunting gear and fishing-rod bags into a luxury luggage company. They applied the modern American ...

On Front Lines of Debt Crisis, Luggage Maker Fights for Life - Wall Street Journal

WASHINGTON (AP) -- A seven-member group of investors has agreed to buy the remnants of failed lender IndyMac Bank, a symbol of the housing boom and bust, for $13.9 billion. Pasadena-based IndyMac, which specialized in loans made with little down ...

FDIC Will Eat the Losses on Some Bad IndyMac Loans - KNx 1070

Not that long ago , a middle-school band teacher like Mark Witt would have been able to finance a mortgage in Phoenix, no problem. Then the real estate market crashed, taking with it the easy-money mentality that made getting a loan as simple as ...

The Bank of Mom and Dad - Smart Money

The safety net is almost gone, the nest egg is cracking. Many Americans have recently found themselves changing retirement plans after losing a substantial amount of home equity as the housing market and the overall U.S. economy struggle. These folks ...

As home equity withers, near-retirees start search for alternatives - Times-Leader

I don't like the phrase "tap into" home equity. Call it for what it is- a secured loan. Borrowing is borrowing, whether by credit card … read more (unsecured), or home equity. The safety net is almost gone, the nest egg is cracking. Many Americans ...

Plan B for retirees who counted on home equity - Minneapolis Star Tribune

PALM BEACH GARDENS, Fla. (MarketWatch) -- Despite some dire financial predictions for 2009, good news is in store for savvy consumers -- if you have good credit and are proactive at looking for banks' deals and perks. One example: Low mortgage rates ...

Amid the bad news, consumers will find some good deals in 2009 - Marketwatch

What happened to the $700 billion pail? Months ago, when President Bush said “our entire economy is in danger,” his administration asked for and received $700 billion to buy bad mortgage-backed loans off the books of U.S. banks. At the time ...

Peter Crabb: Bad loans still on banks' books will prolong recession - Idaho Statesman

The Federal Deposit Insurance Corp. on Monday agreed to sell IndyMac, a failed bank it took over last July, to a group of sharp Wall Street operators. They're paying about $15 billion, leaving the FDIC with a loss of about $9 billion on the bank. The ...