Word: bankses
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Of course, as institutions emerging from the worst of the credit crisis, the banks have little more than that in common. Famous for flogging mortgages worth 125% of a property's value, Newcastle-based Northern Rock was caught with its pants down when the wholesale markets it relied on to...
In their efforts to expand, going without government bailouts during the depths of the crisis last fall won't have done either bank's prospects any harm. While Barclays and HSBC have both benefited from taxpayer loans or guarantees - part of a $2 trillion package of state and central-bank...
The SEC complaint, which was filed Monday, alleges that Lewis misled shareholders in advance of the Merrill acquisition, withholding information that might have caused investors to vote against the acquisition he wanted. In a proxy statement sent to shareholders prior to the vote on the deal, Bank of America stated...
It was a false alarm. Rumors had swept the trading floor that China was going to tighten money supply. That night, the central bank reaffirmed its loose monetary policy that is meant to support economic growth and pledged to refrain from imposing loan quotas to control bank lending. The next...
Furthermore, new research suggests that a key assumption made in creating monetary incentives for loan modifications - that economic self-interest would make firms eager to modify loans - may be wrong. Economists at MIT and the Federal Reserve banks of Boston and Atlanta have found that about 30% of borrowers who...