FROM Douglas McIntyre
Ousted as Bank of America Chair, Ken Lewis Still in Charge Bank of America CEO Ken Lewis has testified that he agreed to merge with Merrill Lynch to help save the financial system, even though he knew it would be bad for some shareholders. Yesterday, shareholders struck back by stripping him of his chairmanship of the board. Despite yesterday’s rebellion, Lewis is still President and CEO. Walter Massey, who replaced him as chair, says Lewis has the “unanimous support” of the Board. Doug McIntyre is co-editor of 247WallStreet.com.
Is a Wave of Foreclosures Heading Our Way? Fannie Mae , Freddie Mac and a lot of big mortgage banks have quietly ended their moratoriums on home foreclosures. The foreclosure listing firm Realty Trac reports today that the number of households threatened with losing their homes jumped 24% in the first three months of this year.
Is a Wave of Foreclosures Heading Our Way? Fannie Mae, Freddie Mack and a lot of big mortgage banks have quietly ended their moratoriums on home foreclosures. The foreclosure listing firm Realty Trac reports today that the number of households threatened with losing their homes jumped 24% in the first three months of this year.
Trump's 'America First' goes missing abroad In the Middle East, President Trump is changing some policies of the Obama Administration—and reversing his own campaign attacks on Islam as a religion that "hates us." We hear about his visit to Saudi Arabia and what's at stake for the rest of his foreign excursion.
The Trump agenda: where's the beef? President Trump says big things are happening. After celebrating a House bill on health care, he doesn’t yet have Senate agreement. With James Comey’s public testimony scheduled tomorrow, the President today tweeted his selection of a new FBI Director. Is the Chief Executive all style and no substance? Later, terror attacks in Iran and conflicting claims about who’s behind them.
Ex-FBI Director Comey tells his side of the story Today, former FBI Director James Comey came close to calling the President who fired him a liar. The White House denied the claim and called it insulting, but Republican Senators did not challenge Comey’s truthfulness. Many questions remain: did the President try to obstruct a federal investigation? Later, we’ll go behind the “velvet rope” for a look at 5-Star health care for the richest Americans.
Janesville and the American Dream Janesville, Wisconsin is the hometown of Republican House Speaker Paul Ryan. But he couldn’t prevent the closing of the General Motors factory after 100 years. On this Memorial Day rebroadcast of To the Point, we hear what’s happened to what once was a model of American middle-class unity.