CEO Brian Moynihan is getting another title: chairman of the board.

Bank of America will pay $2.4 billion to shareholders who accused it of withholding negative information about Merrill Lynch's finances.

Bank of America will pay $2.4 billion to shareholders as part of a settlement announced this morning. It's compensation for maybe not sharing the whole story when B of A bought the failing brokerage Merrill Lynch in 2008.

Yesterday, tourists were posing for pictures outside of Lehman Brothers in New York City, doubtless to show everyone back home that they were there…

Wow, Lehman Brothers and Merrill Lynch just fell in the blink of an eye. And other institutions may yet fall in the months ahead….