Out with the old, in with the new at big banks

Friday, January 23, 2009

Two of the nation's largest and most troubled banks are going through high-level personnel changes. Bank of America has taken over Merrill Lynch, and is now pushing out its chairman John Thain. And under pressure from federal regulators Citigroup has brought in a new chairman, Richard D. Parsons, who used to head up Time Warner. New York Times business reporter Louise Story joins John and Adaora to explain the high level staff shifts and what they might mean for the future of the banks.

For more, read Louise Story's article, Thain Resigns Amid Losses at Bank of America in the New York Times.

Guests:

Louise Story

Contributors:

Jesse Baker and Nadia Zonis

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