Sensitive to the ups and downs over the global economy, global banks have reported close to 50 000 layoffs, begins today and will continue in the coming years.

HSBC <0005.HK> and Lloyds Banking Group announced major cutbacks.

The job cuts in Bank of America, expected to be completed by the end of September, are scattered throughout the company, including investment banking and trade, said the Journal, citing people familiar with the situation.

Bank of America was not immediately available for comment after hours in corporate America.

Thousands of additional reductions expected as part of a review known as the “New Project of alcohol,” said the WSJ.

The leaders will discuss the variety of the bank can still cut, but a person familiar with the situation said that at least 10 000 jobs are likely to be removed, the report said.

Investors hammered shares in fear of the Middle may need to raise funds by offering new shares to help absorb billions in legal fees and credit arising from its 2008 purchase of shares of Countrywide Financial Corp the largest U.S. bank has more than halved since peaking above $ 15 per share in January, closed at $ 7.01 Thursday.

Willing to make active and rebuild their battered capital base, Bank of America announced Monday its intention to sell its portfolio of 8.6 billion Canadian dollars by credit card in the TD group.

Bank of America has lost more than $ 22 billion from its mortgage division over the past four quarters.

It decided in June to pay $ 8.5 billion of mortgage-backed securities, investors and fighting numerous lawsuits challenging the regulations and other mortgage questions.

The first settlement with the Securities and Exchange Commission (SEC) could be reached next week, while some other offerings can take several months to know, says the WSJ.

SEC negotiations with the banks, including JPMorgan Chase, Citigroup Inc., Morgan Stanley, Merrill Lynch, the unit is now Bank of America, UBS and the Journal.

The SEC expects to reach a series of agreements with the banks on the sale of mortgage bonds, rather than an industry to cope with large scale, the Wall Street Journal, citing people familiar with the matter.

the regulatory decision to go to individual solutions reflects the considerable differences in the nature of civil fraud charges faced by the bank, sources told the Journal.

All the banks named in the report and the SEC declined to comment on the WSJ.

JP Morgan spokesman for Bank of America and Merrill Lynch declined to comment on the daily report from Reuters. All other parties could not immediately be reached for comment after business hours in the United States.

27-page document that was sent to the country’s largest mortgage lenders, does not specify any penalties or fines, but a code of conduct, how they dealt with the borrowers during the loan modification process, the sources told the newspaper.

The draft code of conduct that require banks to look first to reduce outstanding mortgage loans, in some cases before the changes or foreclosure, the newspaper said.

Investors who bought more than $ 100,000 in shares Lphi between May 29, 2007 and January 20, 2011 (the “Class Period”) are advised to contact Hagens Berman socio R. Reed Kathrein at 510-725-3000 for a personal consultation. Eligible investors may also contact the legal team LPHI@hbsslaw.com Hagens Berman. A lead plaintiff is direct action and in the same situation.

“We blame the outcome of similar cases on behalf of investors, and is based on a careful examination of the context of our team, we believe that Life Partners Holdings, the action may be misleading to investors and policyholders,” he Mr. Kathrein said. “As the investigation advances, we are interested in talking with witnesses who can provide more information about these allegations, and investors who believe they have suffered a couple of unmarried Holdings practices and policies of the holders of fractional interests, which can be documented. ”

“Investors are making significant losses and looking to have a lead applicant should carefully review the qualifications of lawyers who they choose as their representatives,” said Kathrein. “More businesses to determine their actual knowledge facts, to the extent of his research, his history of success and reputation in the legal community. Fancy titles and press releases, without a proper investigation should be considered.”

Life Partners Holdings, Inc., Waco, Texas company, which operates the secondary market for life insurance, commonly called “life settlements”. Life Partners Holdings, Inc., helps investors buy life insurance, and policies of the terminally ill and elderly discounts the nominal value.

When questions were raised by The Wall Street Journal on the accuracy of the method used by Life Partners Holdings, Inc. for its projected life have much more information to the surface. The projections are important because the company may charge investors more policies that have a shorter life expectancy and therefore faster payments. If the death of the insured person is later than expected, the payment is delayed, and investors must continue to pay premiums, reduce their eventual return.

According to our research unmarried Holdings, Inc. to use a doctor based in Reno, Nevada to provide earnings estimates. estimates of life expectancy of this person has been questioned by many, some of which have been approached by Hagens Berman, the SEC and the results of their findings. Hagens Berman welcomes more investors, representatives of the insured or the actual experience of policies and their activities.

LPHI shares sank $ 2.61, or about 17 percent, to $ 12.43, while unmarried Holding, Inc., confirmed the investigation by the SEC and the Wall Street Journal. Today’s stock trading below $ 10 per share. In December 2010, and before the news articles in the Wall Street Journal, LPHI stock traded as high as $ 18.34.

As he readies for his State of the Union speech Wednesday, the president’s approach reflects the demands of a new political landscape in Washington, where Republicans now have the votes to block Democratic initiatives in the Senate.

In his address, expected to focus heavily on the economy, Obama will seek to steer the public’s anger over joblessness and bailouts while recognizing that Democrats alone can’t do his bidding in Congress.

On the Wall Street front, Obama is trying to capitalize on public anger by making a populist pitch sharply critical of big bankers while also extending a pragmatic hand to Republicans with a proposal that, at the very least, has intrigued them.

Right now, a sweeping change in banking regulations is the best chance Obama has at claiming an accomplishment this year after a stunning Republican victory in Massachusetts weakened Democratic control of the Senate.

As announced last week, Obama now wants the government to restrict large bank holding companies that combine commercial and investment banking from carrying out high-risk bets called proprietary trading. The idea had been pushed for more than a year by former Federal Reserve Board Chairman Paul Volcker, the head of the President’s Economic Recovery Advisory Board. It also became a top issue with Vice-President Joseph Biden, a longtime friend of Volcker’s.

Initial positive reviews have spanned the ideological spectrum, from liberal economists to the conservative editorial pages of The Wall Street Journal.