The Bank of New York Mellon Corp (NYSE:BK)

CAPS Rating: 4 out of 5

The Company provides services that enable institutions & individuals to move and manage their financial assets. It has a tradition of collaborating with clients to deliver solutions through its securities servicing, treasury management & private banking.

Recs

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Player Avatar DarthMaul09 (29.79) Submitted: 10/7/2011 11:39:06 AM : Underperform Start Price: $17.18 BK Score: -61.54

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/10/6_Madoff_Whistleblower_Tells_KWN_Banks_Stealing_From_Pensions.html

Even if the complaint is settled, this banking practice will likely end, which will decrease another revenue stream for many of the big banks. Any settlement payment or bad publicity will further hurt the bank, which may lead to class action investor lawsuits as is usually the case when big money interests start losing money.

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