Word: funds
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...TARP funds are a relatively inexpensive way to fund your operations these days," says Ray Soifer, a former top Wall Street analyst and a longtime bank consultant. "The problem I see is that banks are rushing to save every penny and nickel in order to pay back TARP instead of lending, which is one of the ways they make money...
...nearly so, BankUnited is being taking over by a group of private-equity investors, including famed vulture investor Wilbur Ross. The group isn't paying much for the bank - because BankUnited isn't worth much. The FDIC figures cleaning up the mess at BankUnited will cost its insurance fund nearly $5 billion, which makes this the most expensive bank failure this year...
...news for the FDIC, which provides deposit insurance, now to the level of $250,000 per account, at banks across the nation. At the end of last year, the FDIC had only $19 billion left to cover future failures. That's the lowest the FDIC's insurance fund has been in more than 15 years. As a result, on Friday the FDIC decided to raise the fee it charges large banks for deposit insurance. Also, President Obama recently agreed to allow the FDIC to borrow as much as $100 billion, up from $30 billion, from the Treasury if its recovery...
...profit institutions must forgo. For example, besides innovative investing techniques, Harvard was able to build its endowment from $4.7 billion in 1990 to $37 billion in 2008 because it did not pay taxes on those gains. Relative to businesses, the federal government is subsidizing Harvard’s investment fund...
...percent in extra interest because they are increasingly likely to default. Congress uses perverse mathematics that no one else has to make certain that banks will write down more money on credit card losses. This gives the government the opportunity to lend the banks more out of the TARP fund...