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Bank of America's capital levels are sufficient to keep the company going for more than two years, CFO Joe Price says according to a report.
Financial stocks were taking a hefty beating Thursday, as uncertainty about the government's financial bailout plan and stimulus package persisted.
Financial stocks were falling sharply Tuesday, after Treasury Secretary Timothy Geithner detailed new government initiatives to help the sector.
Financial stocks were mixed in trading Monday, as investors awaited additional news of a government bailout for the sector.
Bank of America and Citigroup saw their individual and preferred shares downgraded to junk by Fitch Ratings on Friday, reflecting ongoing concerns about federal involvement.
Financial stocks experienced mixed and wild trading Thursday, as uncertainty about the government's handling of the bailout package rattled the sector.
Bank of America CEO Ken Lewis bought another 200,000 shares of the company's stock as it slipped to lows not seen in almost two decades.
President Barack Obama's proposed clampdown on CEO salaries for companies getting a government handout may be misguided in its execution, even if the spirit of the move makes political sense, Wall Street analysts and observers say.
President Barack Obama on Wednesday announced a plan to cap executive pay for companies that participate in the Treasury Department's bailout program for the financial sector.
The Las Vegas trip for its employees was the latest example of a financial firm appearing tone deaf to an increasingly bailout-weary public.