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...retain in the past. In the S&L crisis, the FDIC was on average swallowing nearly 80% of the troubled assets of failed banks. What's more, the FDIC says the average loss ratio hides the fact that the agency was able to resolve the largest bank failure of 2008 - Washington Mutual- without costing its insurance fund a dime. "Washington Mutual was an absolute home run," says FBR's Stein...
...Yiddish joke,” my friend Clifford said after I told him the story. But I saw “The Case of the Mistaken Hazans” as a beautiful realization of “mishpacha,” the Yiddish word for family, in its largest sense. It’s a word for your mother’s father’s sister-in-law’s great-uncle’s cousin Saul, who looks just like you. Of course, the “wrong” Rabbi Hazan insisted I stay. I felt...
...federal government really does not want to build a "bad bank" to take toxic assets from America's largest financial institutions. It has taken a number of measures to avoid...
...sponging up of all these toxic assets takes the discussion back around to what the government gets in return for such colossal aid. The largest American banks had market capitalizations of as much as $300 billion each two years ago. The purchase of bad assets when stock values were at those levels would have kept shareholder dilution at a reasonable level. The government would have gotten shares for taking the junk off bank books and putting it into its new "bad bank" agency...
...Those market cap figures are now closer to $40 billion for each of the four largest banks. A one trillion assistance package has to create some value for taxpayers. A stake in the banks would seem to be the only options whether it is through senior debt or equity...