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Project scoop Project length: 4 pages Max! To be included in the paper: Overview of the company What was the economic failure from a Risk management prospective which caused the company to file for...

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Project scoop
Project length: 4 pages Max!
To be included in the paper:
Overview of the company
What was the economic failure from a Risk management prospective which caused the company to file for bankruptcy, and need aid from the government?
What were some of the Risk management tools which could have been used to prevent the company’s failure?
Any new findings regarding the company’s current asset status
Sources:
  • Company Annual Report, Form 10-K, Form 10-Q, Proxy Statement, Press Releases.
  • Newspapers and Magazines, including: The Wall Street Journal, The Financial Times, The New York Times, The Economist, Business Week, Forbes, Fortune, Bloomberg, etc.
  • Other information Sources, including: Lexis-Nexis: Bloomberg Reports, Value Line Reports , Corporate
Please provide a reference page.
NOTE: Pay particular attention to grammar, spelling, and punctuation.
Document Preview:

INDIVIDUAL PROJECTTOPIC: BANK OF AMERICA  HYPERLINK "https://www.bankofamerica.com/" https://www.bankofamerica.com/ HYPERLINK "http://en.wikipedia.org/wiki/Bank_of_america" http://en.wikipedia.org/wiki/Bank_of_americaProject scoopProject length: 4 pages Max!To be included in the paper:Overview of the companyWhat was the economic failure from a Risk management prospective which caused the company to file for bankruptcy, and need aid from the government?What were some of the Risk management tools which could have been used to prevent the company’s failure?Any new findings regarding the company’s current asset statusSources:Company Annual Report, Form 10-K, Form 10-Q, Proxy Statement, Press Releases. Newspapers and Magazines, including: The Wall Street Journal, The Financial Times, The New York Times, The Economist, Business Week, Forbes, Fortune, Bloomberg, etc. Other information Sources, including: Lexis-Nexis: Bloomberg Reports, Value Line Reports , Corporate Please provide a reference page.NOTE: Pay particular attention to grammar, spelling, and punctuation.

Answered Same DayDec 29, 2021

Solution

David answered on Dec 29 2021
46 Votes
Bank of America overview
Bank of America Corporation as the name suggests it is one of the banking corporation
established in America. It is a financial service and multinational banking corporation with
headquarters in North Carolina. In US, by assets it is the second largest bank holding company
and third largest non-oil company. Wells Fargo, JP Morgan Chase, Citigroup are the major
competitors of Bank of America. It is active in 50 states in U.S. and 40 countries other than U.S.
In the entire world 16,200 ATMs and 5600 banking centers of Bank of America are cu
ently in
function.
Amadeo Giannini founded Bank of Italy in San Francisco in 1904. In 1922, Bank of America
and Italy is established by Amadeo Giannini by buying dell’Italia Meridionale which was
established in 1918.
In 1927, Bank of Italy is consolidated with Liberty Bank of America which was newly
established by Amadeo Giannini and in 1930 Bank of Italy got renamed as Bank of America.
In 1983 Bank of America acquired Seafirst Corporation and Washington with its wholly owned
ank subsidiary. In 1986 Bank of America suffered huge losses because of bad loans in Third
World.
Due to the 1986 and 1987 losses, Bank of America’s stock declined resulting into hostile
takeover. Bank of America and Italy is sold to Deutsche Bank, Brokerage firm to Charles
Schwab & co. and Finance American Subsidiary is sold to Chrysler. The stock market got so
much crashed that the Bank of America share price had fallen to $8. But by 1972 the position
started improving.
In 1992, Bank of America acquired Security Pacific Corporation with its subsidiaries and
California rival.
In 1994, it acquired Trust company of...
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