Banking Industry news from FierceFinance
The U.S. Banking Collapse
From 2003 to 2007, there were 10 bank failures in the U.S. Already in 2008, 13 banks have failed, with the lowlight being the collapse of Washington Mutual on September 25--the biggest bank failure in American history. What other banks have failed this year? View the list
News
And the best banks are...
Banking industry awards, as of late, have taken on an unwittingly humorous dimension. Bank of America CEO Ken Lewis was named banker of the year last year, just as his bank was starting to tank.... Read more...
Be wary of rosy bank earnings estimates
The Federal Deposit Insurance Corp. has reported that the banking industry earned a $7.6 billion profit in the period from January to March--an ostensibly big rebound from the record loss of $36.9... Read more...
Private equity to the rescue?
You might have thought the private equity industry wanted nothing to do with banks, given some big losses, notably the bath TPG took on Washington Mutual. But some firms, notably J.C. Flowers and the... Read more...
More analysis of Tim Geithner
Is the bailout effort by the U.S. government--despite some tough talk on bonuses and the like--overly generous to the banking industry? That's the premise of an interesting New York Times article,... Read more...
High stakes in the bonus battle
The banking industry is fighting back in Washington, pressing its case that onerous bonus restrictions would be bad for the industry and the economy. But Congress remains in a "fever pitch,"... Read more...
Time for Wal-Mart to take on Bank of America?
Recall that two years, Wal-Mart's application to create an industrial loan company galvanized opposition--from the Federal Deposit Insurance Corp., rival banks and the many populist Wal-Mart critics.... Read more...
More banks seek TARP funds
So far, 62 banks have been approved (some on a preliminary basis) to receive about $173 billion from the Troubled Asset Relief Program; another 48 have applied for $6.5 billion. More banks likely met... Read more...
How to transition your career with grace
Chances are you know a lot of hurting people right now. The industry is in one the worst down cycles of the past 20 years, and it's going to get worse before it gets better. Most of you do not have... Read more...
Picking winners and losers in the banking industry
We've suggested here that the trickiest part of the entire TARP is the price at which the Treasury will buy specific assets. But the asset picking seems to have been put on the back burner in favor... Read more...
Jamie Dimon speaks at Harvard
Is Jamie Dimon--who benefited greatly from the crisis; he's now seen as the government's go-to guy--trying to ward of more regulation? It's been suggested that a new Sarbanes-Oxley-like set of rules... Read more...
