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Latest Henry Paulson Stories

2009-07-28 11:00:00

SANTA MONICA, Calif., July 28 /PRNewswire/ -- California-based electric car and battery company, Coda Automotive, announced today the close of a Series B investment round totaling $24 million. The capital will be used to support the development and 2010 California market entry of its all-electric sedan and funding of its battery manufacturing joint venture. The Series B investment round held its final close in early summer 2009. Investors include: the two Series A round investors, Miles...

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2009-07-16 14:15:00

Congressional leaders chastised former U.S. Treasury Secretary Henry Paulson Jr. for his role in pressuring Bank of America to purchase Merrill Lynch. Several members of the House Committee on Oversight and Government Reform said Thursday Paulson misled Congress in previous explanations of the deal, which resulted in an additional $20 billion bailout for Bank of America, which purchased the ailing Merrill Lynch in the first week of the year. While all this was going on, the American people,...

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2009-07-16 08:00:53

Former U.S. Treasury Secretary Henry Paulson Jr. said he pressured Bank of America to purchase Merrill Lynch, as no deal would have been unthinkable. It would have been unthinkable for Bank of America to take this destructive action, by canceling the deal to purchase the ailing New York bank, Paulson said in a statement prepared for an appearance before the House Committee on Oversight and Government Reform Thursday. The controversy arose when Bank of America's Chief Executive Officer Kenneth...

2009-07-15 19:13:05

Ex-U.S. Treasury Secretary Henry Paulson plans to defend allegedly threatening Bank of America to keep its acquisition of Merrill Lynch on track, ABC News says. It would be unthinkable for Bank of America to take this destructive action for which there was no reasonable legal basis and which would show a lack of judgment, Paulson said in written testimony obtained by ABC. In the testimony, to be delivered Thursday to the House Committee on Oversight and Government Reform, Paulson said BOA's...

2009-05-19 13:52:13

Sen. Charles Grassley, R-Iowa, has raised concerns about BlackRock, a little known New York firm playing many roles in the economic recovery process. The company, 47 percent owned by Bank of America, has been hired as a government consultant on rescue efforts involving investment bank Bear Stearns, the country's largest insurance company American International Group and giant Citigroup, The New York Times reported Tuesday. While simultaneously managing its own $1.3 trillion money management...

2009-04-29 18:23:53

Bank of America Corp. said President and Chief Executive Officer Kenneth Lewis would no longer serve as the bank's chairman. Shareholders at an annual meeting voted narrowly to split Lewis's jobs, The Wall Street Journal reported Wednesday. Lewis will keep his CEO and president responsibilities. After the vote, the board elected bank Director Walter Massey to serve as chairman. Executives from Habitat for Humanity and the United Way pitched support for Lewis, who has been criticized for the...

2009-04-23 11:40:00

WASHINGTON, April 23 /PRNewswire/ -- The following is a statement from the CtW Investment Group regarding today's Wall Street Journal report on Ken Lewis' testimony to the New York Attorney General. "Today's page one Wall Street Journal report underscores why Bank of America needs a CEO and board of directors that will put the interests of shareholders ahead of their own interest in self-preservation. Voting against Chairman and CEO Ken Lewis, Lead Director O. Temple Sloan and Governance...

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2009-04-23 11:00:00

Bank of America Chief Executive Officer Ken Lewis said U.S. officials instructed him to keep quiet about the bank's purchase of Merrill Lynch. Transcripts of testimony given to the New York State attorney general's office in February, reveal that Lewis believed former U.S. Treasury Secretary Henry Paulson Jr. and Federal Reserve Chairman Ben Bernanke had told him to keep the Merrill Lynch negotiations under wraps, The Wall Street Journal reported Thursday. When asked if he was instructed not...

2009-04-10 10:07:26

New York financial firm Goldman Sachs Group Inc. may soon announce a multibillion shares sale to help repay a $10 billion government debt, sources said. Executives said a decision to move forward with a sale will be based on market conditions, The Wall Street Journal reported Friday. The firm is expected to announce strong first-quarter earnings Tuesday. Goldman Sachs' shares reached $9.58 a share Thursday, higher than they have been in five months. Goldman Sachs accepted the government...

2009-03-26 06:30:00

NEW YORK, March 26 /PRNewswire/ -- Business Plus, an imprint of Grand Central Publishing (Hachette Book Group), announced today that it will publish a new book by former Secretary of the Treasury Henry M. Paulson, Jr. It is scheduled for publication in October 2009. The book, which is yet-to-be titled, will be an insider's account of Paulson's experiences as Treasury Secretary and how he dealt with the greatest financial crisis confronting the United States -- and the world -- since the...


Word of the Day
mundungus
  • A stinking tobacco.
  • Offal; waste animal product; organic matter unfit for consumption.
This word comes from the Spanish 'mondongo,' tripe, entrails.