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ArtikelCan This Man Fix America's Biggest Bank?  
Oleh: [s.n]
Jenis: Article from Bulletin/Magazine
Dalam koleksi: Fortune vol. 164 no. 2 (Jul. 2011), page 92-99.
Topik: Bank of America; Bank Industry; Financial Crisis; US Economy
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Isi artikelWith its damaged reputation and huge mortgage losses, Bank of America is still reeling from the financial crisis. But CEO Brian Moynihan may be the right guy to turn things around. It's hard to think of a company that emerged from the financial crisis more despised than Bank of America. Sure, Goldman Sachs gets pilloried as a symbol of Wall Street greed and excess. But when you count up the various constituencies that have a beef with BofA -- homeowners, consumers, investors, regulators -- it's really no contest. The infamous 2008 acquisition of mortgage giant Countrywide saddled America's biggest bank with the largest, most toxic portfolio of home loans in the business, as well as an ongoing public relations nightmare. Due in large part to its mortgage woes, Bank of America's (BAC) stock remains some 80% off its pre-crisis high of $55. In the minds of many, BofA epitomizes the sorry state of the whole damaged U.S. economy.
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