Paulson & Co. scoops up Bank of America shares worth about $2.67 billion, 4th-largest stake

September 30th, 2009 Report: CIT Group again on brink of collapseNEW YORK — CIT Group Inc. shares plunged Wednesday as the commercial lender is reportedly trying to craft an exchange that would cut its debt and offer bondholders an equity stake in the company in a bid to avoid bankruptcy.

September 14th, 2009 Report: Citigroup plans to pare US stakeNEW YORK — Citigroup Inc. is reportedly considering a plan in which the Treasury Department would sell part of its holdings in the bank, while the bank would issue new shares to the public as part of a multibillion-dollar stock offering.

August 13th, 2009 BofA shares jump after exec, hedge fund buy sharesCHARLOTTE, N.C. — Shares of Bank of America shot up Thursday as a new executive at the bank, as well as a prominent hedge-fund manager, decided to place big bets on the company by buying up blocks of shares.

July 16th, 2009 Lawmakers accuse Paulson of bending to bank CEOWASHINGTON — House lawmakers on Thursday accused former Treasury Secretary Henry Paulson of bending to the demands of a major bank and keeping negotiations of a hefty bailout secret in his rush to stabilize the financial markets last year. Paulson, testifying for the first time since leaving office in January after putting in place a $700 billion bank bailout program, was defiant in his response and admitted no wrongdoing.

July 16th, 2009 Paulson says he threatened bank chief executiveWASHINGTON — Former Treasury Secretary Henry Paulson says he was justified last year in suggesting that Bank of America Corp.'s chief executive could lose his job if the bank backed out on plans to buy troubled Merrill Lynch. His admission, included in written testimony for a House hearing Thursday, comes as Congress debates the government's role in managing financial firms that accept billions of dollars in aid.

July 16th, 2009 Lawmakers say Paulson kept bailout details secretWASHINGTON — Lawmakers accused former Treasury Secretary Henry Paulson on Thursday of bending to the demands of a major bank and keeping negotiations of a hefty bailout secret in his rush to stabilize financial markets last year. Paulson, testifying for the first time since leaving office in January after putting in place a $700 billion bank bailout program, was defiant in his response and admitted no wrongdoing.

July 15th, 2009 Paulson defends work as treasury secretaryWASHINGTON — Former Treasury Secretary Henry Paulson has said in written testimony that the Bush administration's response to the financial crisis late last year was "not perfect" but "saved this nation from great peril." Paulson also defended his role in Bank of America Corp.'s decision to acquire Merrill Lynch, despite Merrill's troubled financial state. Paulson said the merger was in the best interest of the nation and the two firms and that remarks he made during discussions of the deal were "appropriate." Some House lawmakers have accused Paulson and Federal Reserve Chairman Ben Bernanke of pressuring Bank of America officials to proceed with the merger despite mounting losses at Merrill Lynch that ultimately hurt Bank of America stockholders.

June 25th, 2009 BofA raising more capital than Feds requiredCHARLOTTE, N.C. — Bank of America Corp.

June 16th, 2009 TransCanada issues $1.41 billion common sharesNEW YORK — TransCanada Corp. says it will issue common shares worth 1.6 billion Canadian dollars ($1.41 billion) to help fund its acquisition of an oil pipeline.

June 11th, 2009 House chairman questions Bank of America bailoutWASHINGTON — The top Democrat on a House investigative committee says internal e-mails by Federal Reserve employees raise serious questions about $20 billion in government aid provided to Bank of America to buy Merrill Lynch. Rep. Edolphus Towns of New York calls the money a "dowry for a shotgun wedding." The chairman of the House Oversight and Investigative Reform Committee said Thursday that questions remain about what happened exactly and "who was holding the shotgun." The panel is investigating claims that top government officials, including then-Treasury Secretary Henry Paulson and Fed Chairman Ben Bernanke, urged Bank of America to go through with the acquisition and not to disclose to shareholders the details of Merrill Lynch's deteriorating financial state.

May 14th, 2009 BofA sells $7.3B stake in China Construction BankCHARLOTTE, N.C. — Bank of America Corp.

May 9th, 2009 BofA shares surge; 2 analysts upgrade stockNEW YORK — Shares of Bank of America are surging, hours ahead of the expected announcement of bank stress test results, and after two analysts upgraded their views on the company. Bank of America shares are up $1.92, or 15.1 percent, to $14.61 Thursday.

May 9th, 2009 Bank of America surges before stress test resultsNEW YORK — Shares of Bank of America Corp. continued their rapid climb Thursday, hours ahead of the expected announcement of bank stress test results and following a pair of analyst upgrades.

May 6th, 2009 CCB shares slip amid report BofA may reduce stakeHONG KONG — Shares of China Construction Bank Ltd., the country's second-biggest commercial lender by assets, slid Wednesday on worries Bank of America may sell part of its stake in the company to cope with mounting losses. The Chinese lender fell 0.4 percent to close at HK$4.75 in Hong Kong trade.

May 6th, 2009 BofA shares fall on reports of $34B shortfallNEW YORK — Bank of America stock is falling in premarket trading amid reports that it needs $34 billion in new capital. The Wall Street Journal and New York Times are reporting regulators are telling the Charlotte, N.C.-based bank it needs about $34 billion in capital based on results of government "stress tests." Both reports cite anonymous sources.