Word: ceo
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...banks, because banks have a severe agency problem. ... When I trade I don't have an agency problem; I have my neck on the line. When a bank or banker trades, it's not his neck on the line. He has an agency problem, and like [former Merrill Lynch CEO] Stanley O'Neal, if you follow the strategy you're going to make $160 million, and keep it, even if you blow up. And you'll do it again...
...That exec was Henry Paulson, then the CEO of Goldman Sachs, now U.S. Treasury Secretary. Four years later, the SEC complied, amending the rule; the effect was to allow Wall Street to borrow even more money to finance its businesses. At the most aggressive investment banks, leverage ratios reached 30 to 1. That is, for every dollar in equity capital the firm had, it borrowed...
...those ratios are being unwound with a vengeance. In interviews, Wall Street executives, like John Mack, CEO of Morgan Stanley, talk of reducing their leverage to a ratio of 12 to 1 - a regulatory requirement, now that both Morgan and Goldman have turned themselves into commercial rather than investment banks - as if there were some button they could push to make it happen. But the truth is that for U.S. banks, reducing their use of debt and rebuilding their devastated balance sheets is a long and painful process. Deleveraging is part of what creates a credit crunch: institutions that have...
Even by the standards of credit unions, which tend to have much lower delinquency rates than banks, those figures are worth bragging about, but Unitus CEO Patricia Smith isn't standing idly by. Three weeks ago, she hired the credit union's first work-out specialist to start pouring through loan data and making pre-emptive calls to people who might need help - the sort of down-home, we-care solution credit unions sell themselves...
...idea came from White, an agent who knew the value of listing leads; the methodology, from Keane, a computer programmer, who wanted to use a new thing called the Internet. In 2000, James Saccacio, a onetime corporate banker who had been doing turnaround work, took over as CEO. "What intrigued me about the business were the natural barriers to entry," he says. "I asked people, Could someone do this nationally...