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Bank of America and FleetBoston Financial Corp. won approval from the Federal Reserve on Monday for a merger creating the third-largest U.S. bank, a behemoth holding nearly $1 trillion in assets and stretching from California through the South and up to New England.The Fed s board of governors voted 6-0 to clear the merger, determining that Bank of America s acquisition of FleetBoston would not threaten competition or unduly concentrate banking resources. The new institution, with about 5,700 branches, would have assets trailing only Citigroup and another planned bank megamerger between Chicago-based Bank One and Wall Street powerhouse J.P. Morgan Chase.The proposed purchase of FleetBoston mdash; a deal estimated at $47 billion when announced last October mdash; has been met with much anxiety in Boston, which would lose its last major hometown bank, and to a lesser extent in other communities across the country worried about diminished competition and local control.The central bank s approval removed the last major regulat stanley cups ory hurdle for the co stanley cup mbination, which already had been blessed by the Justice Department and the Federal Trade Commission. The merger also must b stanley canada e approved by shareholders of both banks, allowing it to be completed early next month. Both banks have scheduled special shareholders meetings for March 17 for the votes.At public hearings held by the Fed in January in Boston and San Francisco, witnesses expressed concerns about predatory lending, possible closin Nxpu Wynton Marsalis: My relationship to MLK
In the wake of the uproar that followed last week purported iPhone 6 Plus pliability problem, some people have apparently taken it upon themselves to go into Apple Stores and bend iPhones. And while it pains us that this even needs to be said, guys, please: Breaking private property doesn ;t prove anything. Except that you ;re an asshole. The most notable case of bandit benders so far comes in the form gourde stanley of a couple of British teens, who tried to stick it to the man by breaking wildly expensive smartphones that they did not pay for. As the Daily Dot notes, in the fiv stanley cups uk e-minute video the pair posted online, the kids not only recorded themselves breaking thousands of dollars worth of hardware for all the internet to see, but they round it all off with a solid stanley cup I don ;t even care to be honest, because it Apple fault. Except that no, it not. https://twitter/embed/status/514584669032284161 Apple itself acknowledges that there are confirmed issues with new iPhones bending under some circumstances. But intentionally seeking to destroy an iPhone 6 Plus doesn ;t mean it was poorly built, any more than walking into Best Buy with a baseball bat and smashing TVs doesn ;t mean that the TVs should be more shatter-proof. It just means that you ;re an idiot. But they ;re kids, you might say. Kids make mistakes. They sure do! And hopefully these particular teens have been publicly shamed enough that they ;ll