banks-in-us-still-under-fire

Banks in US still under fire

Bank of America, Ken Lewis and Joe Price face a law suit related to the Merrill Lynch merger, while Goldman Sachs pays each of its head honchos a $9 million bonus for 2009.

The past weekend has been an interesting one for Wall Street and a stark reminder that, even though the financial markets in Asia, and the banking sector in particular, are buoyant, the subprime-sparked financial crisis is still haunting the US. The circumstances surrounding Bank of America's takeover of Merrill Lynch were once again in the spotlight as the office of attorney general Andrew Cuomo filed a law suit against Bank of America and its management, while Goldman Sachs sought to defuse tensions surrounding its image by paying its senior managers far less than it has in previous years.

Last Thursday, attorney general Cuomo, joined by special inspector general for the Troubled Asset Relief Programme...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222