Word: bankses
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What's clear is that Geithner, unlike his predecessor Henry Paulson, does not face a growing chorus of voices calling for a particular plan. Initially, Paulson was reportedly in favor of spending TARP money to buy up troubled assets. But shortly after the bank rescue fund passed Congress, a flood...
That's why Miller argues that the government should start buying up common stock in the troubled banks, which would boost their stock prices, erase the perception of imminent failure and remove the likelihood that customers will run with their money. It may even boost lending. Of course, the problem...
Few economists like the idea of the government buying up banks and running them. Congress seems to have little taste for it as well. That's why the government came up with the preferred-share plan in the first place. The fear is that the government would do a worse...
Companies keep cutting dividends. Some are pressed for cash because of operating losses. Others are being constrained by higher debt service. Banks need to preserve capital.
The number does not account for the huge reductions in dividends at most big banks which occurred at the end of last year. Citigroup (C), Wells Fargo (WFC), Bank of America (BAC), and JP Morgan (JPM) have already made cuts or are candidates to do so. Firms in media from...