Visual of the 5yr CDS for BoA, MS, Dexia, Soc Gen, Banco Popular and Unicredit
Tuesday, 4 October 2011 | 
Finance - Banki...
Credit default swaps are contracts designed to insure creditors against a bank (or indeed any company) going bust.
A CDS is a contract issued by big City firms or fund that guarantees the holder will be covered if a particular company defaults on its debts. It is basically a type of insurance used by large investing institutions.
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Tags: BofA to cut at least 40,000 jobs
Saturday, 10 September 2011 | Finance - Banki...
Bank of America Corp. is preparing to slash 40,000 or more jobs, a dramatic retrenchment that reflects the deepening woes of the country's largest bank and the magnitude of the U.S. economic slowdown. The layoffs will come mainly from the BofA's sprawling consumer-banking operations. The layoffs are another blow to California, with its battered economy and nearly 12% unemployment rate as Bank of America has 45,000 employees in the state, about 1 in 6 of its nearly 300,000-person.
Bank of America Corp Chief Risk Officer Bruce Thompson received $11.4 million in compensation in 2010
Monday, 11 July 2011 | Finance - Banki...
Bank of America Corp. (BAC) Chief Risk Officer Bruce Thompson received $11.4 million in compensation in 2010, the most awarded to an executive at the bank and this year he was promoted to chief financial officer. His stature isn’t an anomaly
Citigroup Inc. (C), American International Group Inc. (AIG) and UBS AG (UBSN) are among other companies raising the profile of risk executives. The derivatives meltdown that sparked the 2008 Lehman Brothers Holdings Inc. collapse and an 18-month recession catapulted the role from obscurity to contention for future chief executive officers.
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