September 21, 2013
Mohenjo
Business
amazon, Bank Intern Dead, Bank Of America, Bank Of America Intern, Bank Of America Intern Dead, Bank Of America Intern Death, business, Business News, Health, Hotels, html ref, huffington post, huffingtonpost, human-rights, Investment Banking, kirsty wigglesworth, london apartment, london student, medicine, mental-health, Moritz Erhardt, Moritz Erhardt Intern Dead, research, Science, Science News, Slideshow, technology, Technology News, Texas Sued, top financial institutions, travel, vacation, Work Life Balance
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After learning that a summer intern within its investment banking unit had been found dead at his London student housing complex last week, Bank of America offered the other interns in his program the opportunity to call it quits.
They all had just one week left on their contract, but, according to London’s Financial Times, no one went home.
Such devotion is part of a hard-charging, competitive culture that some blamed for the death of 21-year-old intern, Moritz Erhardt. Since he was found dead by flatmates in his London apartment, talk spiraled online suggesting long hours were at least partly to blame. On Friday, John McIvor, the London spokesman for Bank of America, told The Huffington Post the bank will convene a formal working group to look into Erhardt’s death, as well as to consider how to improve the work-life balance of the institution’s junior staffers.
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A view of London’s Canary Wharf financial district. The death of a 21-year-old intern inside Bank of America’s investment banking unit has set off a debate about the work culture inside top financial institutions. (AP Photo/Kirsty Wigglesworth)
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November 26, 2012
Mohenjo
Business, Crime
Angelo Mozilo, Bank Of America, business, Business News, countrywide financial, Credit Suisse, economy, Eric Schneiderman, Housing Crisis, huffingtonpost, Mortgage Fraud, Mortgage Fraud Charges, Mortgage Fraud Credit Suisse, Mortgage Fraud Jpmorgan, Mortgage Fraud Lawsuits, Mortgage Fraud Task Force, mortgage lending, mortgage market, ncid, real-estate, research, Science, Science News, technology, travel, vacation, Video, Wells Fargo
FROM
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Even in the movie version of the financial crisis, the giant mortgage company accused by the U.S. government of rampant fraud and abuse wouldn’t be so obvious as to nickname its mortgage lending program “the Hustle.”
The real-life Countrywide Financial, however, was not known for its subtlety. In 2007, as the mortgage market was collapsing, Countrywide, now part of Bank of America, used the hustle — officially, a program it called the “High Speed Swim Lane” — to eviscerate lending standards in order to keep pumping out home loans, even though many were fraudulent, according to a lawsuit filed by the U.S. government last month.
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http://www.huffingtonpost.com/2012/11/21/mortgage-fraud-lawsuits-_n_2174002.html?ncid=edlinkusaolp00000003
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August 23, 2012
Mohenjo
Business
Bank Of America, Barack Obama, Business News, Democratic Convention, Democratic National Committee, Democratic National Committee Bank Of America, Election 2012, Elections 2012, huffingtonpost, Move Your Money, Slideexpand, Video, Wall Street Donors, Wall-Street-Fundraising
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The Internet Newspaper: News, Blogs, Video, Community
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Bank of America is likely about to lose a very prominent customer.
The Democratic National Committee will announce some time in the next few days that it’s pulling some of its business from Bank of America, the Wall Street Journal reports, citing a “Democratic Party official.” Instead, the organization will keep its money at union-owned Amalgamated Bank. The process of moving all of the DNC’s money to Amalgamated will be completed after the election, according to the paper.
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.Click link below for story, video, and slideshow:
http://www.huffingtonpost.com/2012/08/13/democratic-national-committee-bank-of-america_n_1772962.html?icid=maing-grid7%7Cmyaol%7Cdl4%7Csec1_lnk3%26pLid%3D191868
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