banks

Kate Kelly and Jon Hilsenrath have a story on the front of the Wall Street Journal today demonstrating the real problems with the revolving door between Wall Street and the regulators.  The essence of the story is this:  new York Fed…

Last week I wrote a post suggesting that the Germans were getting tired of bailing out their banks and had moved to more draconian solutions to 'fix' the banking sector. Nationalizing Hypo Real Estate this week will be the first move in…

Warren Buffet speaks with CNBC in the lead up to the Berkshire Hathaway Annual Meeting.  He talks a bit about stress tests and Citigroup.  When asked about Wells Fargo, he says he administers his own stress tests and that Wells passes "with…

This is FDIC seizure number 32 (more details here): Cache Valley Bank, Logan, Utah, Assumes All of the Deposits of America West Bank, Layton, Utah America West Bank, Layton, Utah, was closed today by the Utah Department of Financial…

This is number 31 by the FDIC this year. "The FDIC estimates that the cost to the Deposit Insurance Fund will be $18.1 million." (See link for further details): North Jersey Community Bank, Englewood Cliffs, New Jersey, Assumes All of the…

Here is the press release from the FDIC for failure number 30 I believe (so many I lose count). Notice the eye-popping losses of $1.3 billion (link here): FDIC Creates Bridge Bank to Take Over Operations of Silverton Bank, National…

With the stress test results coming out, it is a wonderful thing for Citigroup that it has been able to sell its Japanese brokerage unit to Sumitomo Mitsui, and at a good price of $7.8 billion. Here's an excerpt of the FT story:…

Today I saw two blurbs about Eastern Europe which I want to pull together with a bit of added commentary about the automakers in the U.S.  The first blurb had to do with the Baltics and their probable downgrade to junk by the ratings…

The first bank nationalization in German history is about to take place. At issue is Hypo Real Estate (HRE), a troubled Munich-based company that lends to commercial property developers and to build offices, hotels, roads, airports, you…

This is from BofA's website: Bank of America Corporation today announced the results of management and shareholder proposals at the company's 2009 annual meeting... All 18 directors were elected to the board by comfortable margins. In…