Grim Job Numbers, Desperate Days at BofA
cityfile · 02/06/09 07:08AM• Some 3.6 million jobs have now been lost due to the recession. [WSJ]
• BofA chief Ken Lewis purchased 200,000 shares of the bank this week in an effort to convince the world he's bullish about BofA's future. [WSJ]
• Good work, Hank. The Treasury Department overpaid by about $78 billion when it handed over all that cash to big banks last year. [Reuters]
• A hedge fund manager, a brokerage trader and a financial adviser were charged on Thursday for taking part in an insider trading scheme. [DB]
• The feds have also accused two people in the M&A groups at UBS and the Blackstone Group of handing over info to an insider trading ring. [NYP]
• Fraud investigator Harry Markopolos, who testified on Capitol Hill yesterday, says he's turned over evidence of several other big frauds to the SEC. [CNN]
• The markets have been up amid speculation the grim unemployment numbers will force Congress to pass an economic stimulus package. [BN]