As a result of the 2008-2009 credit crisis, the United States government has committed over $700 billion to bail out the banks in order to stem the tide of systemic meltdown. As the populace rages about these rescues and how the banks themselves have chosen to use these funds, it is important to remember that…
Bank of New York
BONY Mellon Spits the Bit
From Reuters: Bank of New York Mellon Corp (BK) lowered its dividend 63 percent to build capital, after a decline in fees resulting from falling equity markets caused first-quarter profit to decline more than expected. Net income attributable to common shareholders declined 57 percent to $322 million, or 28 cents per share, from $746 million,…
