Thursday Night / Friday News (and opinion) - BoA, First Niagara, JP Morgan Hires

General Banking News

Hunt continues for millionaire runaways
Still on the run!
http://tvnz.co.nz/national-news/hunt-continues-millionaire-runaways-2761683

U.S. Banks Have $168 Billion Reason to Avoid Government’s PPIP
http://www.bloomberg.com/apps/news?pid=20601087&sid=aa5Joz86_K6w&refer=home

U.S. banks borrow less from Fed in latest week
http://www.reuters.com/article/bondsNews/idUSN2851971420090528

Questions Delay Sale Of Toxic Bank Assets
http://www.washingtonpost.com/wp-dyn/content/article/2009/05/27/AR2009052702042.html?hpid=topnews

Wall Street faces pay conundrum amid TARP rules
http://www.reuters.com/article/companyNews/idUKTRE54R6OO20090528?symbol=BAC.N

Should the U.S. force bank debt conversions?
http://www.reuters.com/article/companyNews/idUKTRE54R6NI20090528?symbol=RF.N&pageNumber=2&virtualBrandChannel=0

Fed makes banks' capital raising tougher: report
http://www.reuters.com/article/companyNews/idUKTRE54R1AG20090528?symbol=PNC.N

Any limit to bank arrogance?
http://www.zacks.com/stock/news/20522/Any+Limit+to+Bank+Arrogance%3F

Bank of America

Merrill Lynch’s Chief Americas Energy Trader Said to Leave Firm
http://www.bloomberg.com/apps/news?pid=20601087&sid=afK1DE1v17Ko&refer=home

Countrywide loses bid to dismiss mortgage lawsuit
http://www.reuters.com/article/companyNews/idUKN2834491720090528?symbol=BAC.N

Bank of America eyes big share swap to add capital
http://www.reuters.com/article/companyNews/idUKN2832040720090528?symbol=BAC.N

Bank of America getting into the luxury hotel business
http://content.usatoday.com/communities/hotelcheckin/post/2009/05/67364023/1

First Niagara

First Niagara repays TARP proceeds, shares up
http://www.reuters.com/article/companyNews/idUKTRE54R3GW20090528?symbol=PNC.N

Wells Fargo

Wells Fargo CEO says California in 'financial ruin'
http://triangle.bizjournals.com/triangle/othercities/losangeles/stories/2009/05/25/daily27.html

Wells Fargo Fighting Ban on Selling Bank-owned Houses in Cleveland
http://www.wcpn.org/WCPN/news/26369/

JP Morgan

J.P. Morgan Chase Adding 250 Jobs to Rochester
http://www.13wham.com/mostpopular/story/J-P-Morgan-Chase-Adding-250-Jobs-to-Rochester/tmezMA3kPkqmuPsS5v_f3g.cspx

PNC Financial

PNC Chief Rohr Expects Profit at Pre-Recession Levels
http://www.bloomberg.com/apps/news?pid=20601103&sid=auYcjvJL5jBQ&refer=news

Morgan Stanley

Morgan Stanley Bullying Is Least of SEC’s Woes: Jonathan Weil
http://www.bloomberg.com/apps/news?pid=20601039&sid=awpnU9n.2OYU&refer=home

Bad Apples At Morgan Stanley
http://www.forbes.com/2009/05/26/scrutiny-morgan-stanley-markets-equity-banks.html