Word: bankses
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"There are a handful of midsize banks that a lot of investors feel like we should have heard from by now about TARP," says Kevin Fitzsimmons, a bank analyst at investment firm Sandler O'Neill. "But we haven't, and there is a growing sense of unease about it."
Shares of Colonial had fallen as low as $1.44, plunging 46% in a week, on fears the firm wouldn't qualify for government assistance. On Thursday, though, the firm said it had applied to receive TARP funds. The company's shares rallied on the news to a recent $1.98. Colonial...
Wealthy parents aren't completely on their own when it comes to teaching their kids about money. Private banks are increasingly offering programs to educate the scions of high-net-worth customers in the finer points of financial management. "People tend to assume that if you have wealth, you have...
The proliferation of such programs might tempt parents to outsource their kids' financial education. But private banks can't impart the personal values and work ethic that help ensure success in life from an early age. Those character traits, like genes and family wealth itself, must be passed down from...
That fear is palpable on the streets of Seoul. South Koreans have begun to scale back. Song Jae Hyun, a vegetable seller at central Seoul's Nandaemun market, sells his broccoli and bell peppers for only about 50 cents apiece, much cheaper than in many of the grocery stores, but...