“The chairman of the Federal Reserve indicated it [the Bank of America and government assisted purchase of Merrill Lynch & Co] would be structured in a manner such that BAC stock should go up when announced,” Chief Financial Officer of Bank of America Joe Price said in a December 29 e-mail to executives, according to report in Bloomberg. BoA had agreed to acquire broking firm Merrill Lynch after US regulators put up $20bn in fresh capital and agreed to provide $100bn in backstop loans and mortgage securities. But BoA’s shares nose dived following the deal as the market ‘attacked’ them, tumbling 47 per cent in six trading days.
You know ChatGPT, but how much do you know about the company that made it? Journalist Karen Hao joins us to talk OpenAI’s latest implosion.
There are steps we can take to create a new paradigm that will help shift society's attitude towards women in the workplace.
Lockdowns moved the burden of COVID from the at-risk elderly to the less-at-risk young. Does this sacrifice merit compensation?
How much do citizens really value free elections?
Fraud is a $5 trillion “industry.” But not all its perpetrators look alike. Kelly Richmond Pope, a professor of accounting, breaks down who commits fraud — and why.