Word: bankses
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First and last? Much has been made of the fact that Geithner specifically avoided getting input from the financial sector before announcing his plan to fix the nation's ailing banks. Indeed, representatives of the American Bankers Association and the Securities Industry & Financial Markets Association, which lobby for large banks...
The big questions involve what happens to everybody in between. The various federal banking agencies on Monday announced the procedures by which they will convert preferred shares to common stock at troubled banks, and later this week they will begin the promised "stress tests" of the assets of the country...
If banks were to be simply judged for their liquidation value - what they could get for selling off their assets on the open market today - most major financial institutions in the U.S. would be determined insolvent and due for government takeover. But that isn't the standard by which banks...
In a financial panic, markets for certain assets simply stop functioning, and relying on market prices to determine the health of banks would simply mean succumbing to the panic. Then again, relying on bank executives to accurately price their own assets is no good either. Treasury Secretary Tim Geithner hopes...
The day after Timothy Geithner was appointed Secretary of the Treasury, about a month ago, Camden Fine got a call requesting his presence. The head of the Independent Community Bankers of America, a Washington-based association of thousands of small banks, was asked if he could meet Geithner the following...