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Bank of America wants to step up ‘cross-selling

BofA clients hold $500 bln in deposits elsewhere -CEO Bank also referring clients to online broker service… …Bank of America since the acquisition closed has tried to sell more of its own products to Merrill customers, such as checking and savings accounts, home mortgages and car loans. Merrill advisers, meanwhile, want to sell their brokerage […]

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Buffett said rating agencies and others had been lulled by the "narcotic" of seemingly ever-increasing home prices

Warren Buffett’s Berkshire Hathaway Inc has sold another 1.35 million shares of credit ratings company Moody’s Corp, extending a series of sales that began in the middle of 2009… …Testifying in June before the Financial Crisis Inquiry Commission, Buffett said rating agencies and others had been lulled by the "narcotic" of seemingly ever-increasing home prices, […]

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Q+A: What could prompt more Fed easing?

Federal Reserve policymakers meet next week to assess whether the economy needs reinforced monetary crutches. The officials, who gather on September 21, will have to weigh diverging views on how the economy is likely to perform next year and the risk further monetary stimulus my do more harm than good. As Michael Feroli, chief economist […]

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