Word: bancorp
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That was also true when Grameen first came to the U.S., in the late 1980s, and tripped up. Under Grameen's tutelage, Southern Bancorp started making microloans to entrepreneurs in Arkansas. At first, the loss rate was a shocking 30%. Even after getting that under control, Southern found that what people really needed wasn't seed capital but broader help developing work skills and finding jobs...
...Another possible suitor could be US Bancorp. The Minneapolis bank is one of the nation's largest, but it has little presence on the East Coast, where Citi is big player. U.S. Bancorp has a market cap of $40 billion, about double the size of Citigroup. What's more, U.S. Bancorp chief financial officer Andrew Cecere recently told the Wall Street Journal said that the firm was interested in making a large acquisition...
...would cause consumers to flee the banks, taking deposits and forcing the firms to liquidate or be sold. Among the nation's largest banks that have not yet announced they have been approved for the government's TARP assistance are Synovus Financial Corp, M&T Bank, New York Community Bancorp, Colonial Bancgroup and the South Financial Group...
...current climate of fear, there's good reason to think before speaking. Just ask Sen. Charles Schumer. In June the New York Democrat warned that mortgage lender IndyMac Bancorp was on the brink of collapse. His remarks, regulators say, caused a run by depositors that helped bring down IndyMac. Schumer rejected that assertion, saying blaming him is like blaming the fire on the guy who calls...
...sold in a deal that protected both depositors and owners of the company's bonds but left shareholders with very little - has left investors guessing about the fate of the rest of the banking world. Hardest hit in today's market sell-off were regional banks like Sovereign Bancorp and National City, perhaps because they seem too small to get special FDIC treatment...