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Needed: A Size Cap on Big Banks
12 hours ago ago from Break Up the Big Banks
Cross posted from Bankster By Mary Bottari One of the major flaws with the financial reform bill that passed the House last week is that it does nothing to stop behemoth banks from growing even bigger. This problem has gone largely unnoticed in the press, but not by the New York Times . In the clearest signal yet that the Times editorial board is starting to “get it,” today they pressed the Senate to go a step further than ...
Related contentVoros: Nine biggest banks really didn’t need our bailout
10 hours ago ago from Top Stories Oakland
WELLS FARGO executives just couldn't wait any longer or it would run the risk of looking like a laggard, like something was wrong. When Citigroup, the weakest link of America's nine largest banks that were bailed out, announced Monday morning its was joining other banks in repaying $25 billion in TARP money, San Francisco-based Wells became the lone major bank in the country not to reimburse taxpayers. By the end of Monday, though, ...
Related contentRegulators Resist Volcker Wandering Warning of Too-Big-to-Fail
1 day ago ago from LATICONOMICS
Regulators Resist Volcker Wandering Warning of Too-Big-to-Fail By Gadi Dechter and Alan Katz Dec. 15 (Bloomberg) -- Paul A. Volcker visited nine cities in five countries in the past eight weeks to warn that bankers and regulators “have not come anywhere close to responding with necessary vigor” to the worst economic crisis in 70 years. “There is a lot of evidence that financial weaknesses brought us to the ...
Related contentBank Regulators Divided on Securitization Plan
3 hours ago ago from DealBook
U.S. bank regulators on Tuesday approved an initial proposal to jump-start the securitization market and strengthen standards to avoid abuses that helped lead to the economic crisis, but the board remained divided on what limits to impose on banks.
Related contentJanata submits Tk 1,000cr IPO plan
15 hours ago ago from RASHED\'S COLLECTION
Star Business Report Janata Bank has submitted a Tk 1,000 crore IPO plan to the market regulator for approval. The state-owned commercial bank put forward its IPO (initial public offering) prospectus to the Securities and Exchange Commission (SEC) early this week, said a senior SEC official. The bank's IPO, if approved, will be the largest public offering that will surpass the Grameenphone's offering of Tk 972 crore including IPO and ...
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Switzerland Rejects Bank-Data Swap
8 minutes ago ago from Wall Street Journal
BY KATHARINA BART ZURICH -- The Swiss government Wednesday backed privacy laws protecting clients of Swiss banks, but said it is prepared to consider a withholding tax on offshore funds held by Swiss banks in return for easier market access to cross-border business. The measures, aimed at promoting "fiscal honesty" of foreign clients using Swiss bank accounts, form the heart of new plans for Switzerland's financial industry, which has ...
Related contentCitigroup, Wells Fargo To Repay Bailout Money : NPR
17 hours ago ago from NPR
Search hear continuous streams 24-Hour Program Stream NPR News and Shows hear the latest news [4 min 45 sec] Latest NPR Newscast Citigroup, Wells Fargo To Repay Bailout Money by The Associated Press text size A A A December 14, 2009 Citigroup Inc. and Wells Fargo & Co. said ...
Related contentBanks May Face Looser Capital Rules
1 hour, 38 minutes ago ago from Wall Street Journal
BY ATSUKO FUKASE TOKYO Global banking regulators agreed to relax a proposal that stricter bank capital requirements should come into effect from the end of 2012, a person familiar with the Basel Committee negotiations said Wednesday, suggesting that banks may face less near-term pressure to strengthen their balance sheets. The report sent bank shares in Japan sharply higher, on the belief that the banks will face less pressure to raise ...
Related contentIrish Central Banker Warns on Banks' Capital
2 hours ago ago from Wall Street Journal
BY QUENTIN FOTTRELL DUBLIN -- Irish banks will need significantly more capital and 50% state ownership of the country's two leading banks is "quite possible," Patrick Honohan, governor of Ireland's central bank, said Tuesday. The governor said significant additional capital will likely be needed in the two main banks taking part in the forthcoming National Asset Management Agency: Allied Irish Banks PLC and Bank of Ireland PLC. "To the ...
Related contentBanker lashes out at "political interference"
23 hours ago ago from U.S. News
Banker lashes out at "political interference" EDINBURGH, Scotland (AP) -- Royal Bank of Scotland PLC Chief Executive Stephen Hester lashed out at "political interference" in the partly nationalized bank as shareholders met to approve its participation in a government asset protection program on Tuesday. Still, bank shareholders gave formal approval to the bank's participation in a program that will let it offload shaky assets, part of the ...
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